Sony Corp Shares Hit The Lowest In The Last 4 Years

Shares of Sony Corp fell to their lowest level in four years. Data compiled by Bloomberg show, at the close of the market today, Sony shares closed down 10% to 1365 yen. It's the biggest drop since November 2008.

Sell off that hit producer PlayStation game consoles comes after Sony released the losses for eight consecutive quarters. It is an unpleasant surprise for investors who have borrowed money to buy shares of Sony to bet a weaker yen would hoist this stock.

"Speculators are hunting Sony shares fell as the yen will rise to the expectations of the performance must have been very disappointed. They will close the position for a profit or minimize losses," said Mitsushige Akino, chief fund officer Ichiyoshi Asset Management Co..

Just for additional information, and yesterday (7/2), Sony shares have rebounded 92% from its lowest level in 32 years on 15 November.

Sony Corp still can't rise from adversity. Japanese electronics giant is still bear a loss of ¥ 10.8 billion (U.S. $ 115 million) in October-December 2012. Losses due to intense competition with Apple Inc. and Samsung Eletronics Co., as well as weakening demand television (TV).

These are the losses that occurred during eight consecutive quarters. However, the rate of loss has narrowed. In the same period last year, Sony lost ¥ 159 billion.

The biggest disadvantage comes from the division of household electronics such as TVs, amounting to ¥ 8 billion. "Electronic Business is entering a difficult phase," said Masaru Kato, Sony's CFO. During the year, management estimates the total losses at its TV business reach ¥ 80 billion.

Management also lowered its sales target for the year of tenure. TV sales target was reduced from 14.5 million units to 13.5 million, the camera fell from 16 million to 15 million.