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Sony Can't Fight The Falling Euro, Expects A "Huge Impact"

sjohnson
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Posted October 3, 2011 - By Stephen Johnson

Is Sony Making An Android/PlayStation Gaming Phone?

I know we like to think our little gaming addiction takes place in a bubble, and larger world events don't affect our hobby, but it just isn't so. Example: The collapse of the Euro. While it's great for Americans who want to vacation in Luxemborg, it's terrible for Sony. The company expects the fall of the Euro to have a "huge impact," which means losses. Big losses. This is bad.

Sadly, there's nothing that can be done to offsets these losses, beyond a sympathy card to your favorite Sony executive.

"There are no countermeasures that we can take for the moment,” Hiroshi Kurihara, corporate treasurer at Sony, said. “There is a huge impact on our earnings.”

If you want more detailed information, I suggest you read the below paragraph from Bloomberg. There's a kind of poetry to it, honestly.

"The euro’s slump to a decade low against the yen compounds the challenge for Chief Executive Officer Howard Stringer, eroding the value of sales in Sony’s biggest export market just as a weakening won helps South Korean competitor Samsung Electronics Co. Stringer has shut factories and focused on new products such as tablet computers in a bid to end losses."

Source: Bloomberg

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Sony Can't Fight The Falling Euro, Expects A "Huge Impact"
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