JAPAN NEWS: Sony revises its forecasts - again - and announces more cuts for TV division

null

sony revision header

It's now anticipating operating revenue to be even lower than it announced just three months ago, when it thought it was on track to make around £1.2bn profit.

That announcement caused major consternation, but the company has now reduced its revenue expectations by a further 14%, to way below 07-08 levels.

Sony has also announced a further range of cost-cutting measures, and it looks like its LCD TV division will be hit hard. As part of a plan to reduce staffing in its TV design operations by 30% over the next year, it's planning to:

In December last year, the company announced a package expected to deliver annual cost savings over over 100bn yen (over £800m) by the end of next March. These new measures increase the savings to 250bn yen, or about £2bn.