Sony Chief Financial Officer Masaru Kato announced to the press on Monday that the company expects to post an annual loss of $3.2 billion for its fiscal year ending in March 2011 — the second largest loss in company history. The news comes as yet another blow for the Japanese consumer electronics giant, whose online networks have been the target of a series of cyberattacks that impacted more than 100 million customers. Sony had previously expected to post a profit this year, however the company had to write off $4.4 billion for a tax credit from a previous quarter. A series of earthquakes that rocked Japan earlier this year had a negative impact on the company as well, slowing production and destroying factories. The affect of the quakes carried over to the company’s first quarter, Kato told the press, but Sony is still optimistic about 2011/2012. For the fiscal year ending in March 2012, Sony expects to post an operating profit of 200 billion yen, or $2.45 billion at today’s exchange rate.


Zach Epstein has worked in and around ICT for more than 15 years, first in marketing and business development with two private telcos, then as a writer and editor covering business news, consumer electronics and telecommunications. Zach’s work has been quoted by countless top news publications in the US and around the world. He was also recently named one of the world's top-10 “power mobile influencers” by Forbes, as well as one of Inc. Magazine's top-30 Internet of Things experts.