Sony shares at lowest point for 16 years

By Patrick Garratt, Wednesday, 29 October 2008 10:51 GMT

Oh dear. Having slashed forecasts by 57 percent for the current financial year, the PS3-maker’s stock is now trading at a 16-year low.

Sony’s net income has fallen over ¥50b from the last quarter, dropping to ¥20.8b.

The firm announced this morning that PS3 sales were heavily up in the last quarter compared to last year, an 86 percent increase to 2.4 million units sold.

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