Sony on the Ropes. Will eReader Survive?
Sony has announced a ¥455 billion loss in its fiscal year, which ended last March. But not to worry: that only sounds scary because of the yen is so big compared to the US dollar. In dollars that’s only $5.7 billion.
Hmm. $5.7 billion sounds like a lot, actually. Enough to drop the company’s value to about 3% of Apple’s.
Sony is the company that brought you the Walkman and the PlayStation. And the Sony eReader. What is going to become of our poor dear Sony eReader?
Though it never remotely competed with Amazon’s Kindle and has been surpassed in popularity by the B&N Nook, Apple’s iPad and even Kobo’s eReader, it has held steadfast for the six years since its introduction and remains a viable electronic reading device.
The company has a new chief who is giving 10,000 employees pink slips and implementing other cost-cutting measures which have emboldened him to predict ¥8.5 trillion in sales in the next two years, according to Reuters. Now that sounds pretty impressive. Surely there will be a few yen of profit to sustain Sony’s eReader.
We hope so. We’re fond of it, and we need someone to compete with the big boys.