Sony price down to pre-1980 levels

pa.press.net
People are reflected on the electronic board of a securities firm displaying Sony's stock price at 999 yen in Tokyo (AP) // People are reflected on the electronic board of a securities firm displaying Sony's stock price at 999 yen in Tokyo (AP)
People are reflected on the electronic board of a securities firm displaying Sony's stock price at 999 yen in Tokyo (AP)
Sony's stock price has fallen below the 1,000 yen barrier (£8.30) for the first time since 1980 in a symptom of its decline since it found huge success with the Walkman three decades ago.
The electronics giant has struggled to turn around its money-losing TV business for eight years and has been battered by competitors such as Apple and Samsung.
Sony's shares dipped to 990 yen (£8.25) on Monday before recovering slightly on the Tokyo market.
The firm said it was first time its stock price had traded below 1,000 yen since August 1980 - the year after it introduced the iconic Walkman portable cassette player to the world.
The stock peaked at 16,950 yen in March 2000.
Sony last month reported a record annual loss of 5.7 billion dollars (£3.7 billion), for its fourth straight year of red ink.
Copyright (c) Press Association Ltd. 2012, All Rights Reserved.
Page 1 of 1