Sony Proves It's on the Rocks With a Record Annual Loss of $5.7 billion

Things have been going wrong at Sony for a long old time. But if you need hard evidence of its downward trajectory, how about this: it just reported a record annual loss, of $5.7 billion. Ouch.

The $5.7 billion loss is for the 2011 financial year, of which $3.2 billion was racked up in the final quarter. Sony points to "unfavourable" foreign exchange rates, the impact of a Japanese earthquake and the floods in Thailand as reasons for its under-performance.

To that list, you can add: a bloated and confusing catalog of products; a sucky online strategy; and mis-focused efforts on emerging technologies. Somehow, Sony is staying positive and predicts a profit in 2012. Really? By selling stuff like this? Yeah, right. [Sony via AP]

Image by Steve.M~ under Creative Commons license