Sony reports Y98.9 billion annual loss; says it will close 3 plants in Japan

Open the floodgates ! Now that one of the sacred cows of Japanese business has openly announced domestic factory closings, well it won't be long for the others to follow. This is going to destroy the country ! Japan is not structured for this kind of crisis. Prepare for the worst, losing your job, your livelihood, your identity, and your income is a death sentence for thousands of salarymen everywhere... no joke, prepare for the worst.

Sony announced the closing of factories already back in January. Hitachi, Toshiba, and other consumer electronics makers are also "consolidating" operations all over the world, including in Europe, USA, and Mexico. Production is moving to China..where labor is cheap. Even Japanese products will be exported for assembly and re-imported as final "Japanese" product.

Sony also continued to lose money in its game segment, where its PlayStation 3 home console and PlayStation Portable have struggled against rival offerings

If the fools would have installed Linux on the PS3 like they said they would, and advertised the thing all the many many things it can do, I bet it would have sold better. I think they were thinking it would just sell itself.

Another problem here is they won the hi-def DVD war just as people have to spend a bundle to update their TVs to digital. Its not like they were complaining about the quality of the old DVDs! But just to watch TV in a few years, they have to do something, and no solution is cheap. So they are in no rush to go to blu-ray, and the easy way to do that is buy the PS3.

Imagine if there was a digital tuner in the PS3. Then it would really sell.

Sad to read that but it is predictable news. Talk to me and I'll get you up there again. Jia Mata.

If the Japanese government would just dump a buncha yen into the marketplace and buy up dollars, this situation would fix itself pretty fast. The Japanese economy isn't built to function well with a strong yen.