Sony Hemorrhaged Several Billion Dollars And Is Laying Off 10,000 People From Their Company

Howard Stringer

Sony is losing money at a drastic rate, having hemorrhaged several billion dollars, coming in dead last behind competitors such as Apple and Samsung. The company was battered by hackers who stole everything that wasn't nailed down.

The company has also been hit by many copyright infringement, patent infringement and trademark infringement lawsuit, for the blatant and criminal theft of other people's intellectual property. As a result of all the disfavor and financial deterioration, Sony will be laying off 10,000 people.

If they would focus on actually trying to come up with something original, rather than stealing everything under the sun, companies such as Apple, Samsung and Nintendo would not be trouncing them in the marketplace.

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STORY SOURCE

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The 1.5 Million CDs Lost In Sony London Fire Are Not Covered By Insurance

CDs, DVDs, Blu Ray, Vinyl And Equipment Burned To A Crisp

Sony CEO Howard Stringer

Reports indicate the 1,500,000 CDs and an as yet unnumbered amount of DVDs, stored in the Sony warehouse in Canning Town, London that was torched in a massive blaze this week, are reportedly not covered by insurance, due to the incident having transpired during riots.

A large number of blank discs Sony uses to make CDs, DVDs and Blu Ray products, were also incinerated in the fire, resulting in a shortage. Firefighters have battled the blaze for three days, as they've been dismantling the large, charred building, to reach a segment of the structure that is still emitting smoke. Three teens were arrested yesterday in connection with the blaze.

Sony has been having a very difficult time with insurance adjusters of late. Case in point, after a collective of hackers completely hacked the Sony websites, stole financial and personal data of 100,000,000 customers, creating billions in losses for the company, their insurance company sued, stating they are not paying Sony, as the incident occurred due to their negligence and poor security practices.

It was later revealed, Sony kept customers' valuable financial data and personal information on unencrypted servers, containing outdated firewalls and next to no security. They had the funds to provide good security, but Stringer's cockiness and cheapness in cutting corners caught up with the company.

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STORY SOURCE

Fire Destroys U.K. Record Distribution Center, Millions Of CDs Lost

4:40 pm August 9, 2011 - ...Collinson adds that he's unsure whether Ninja Tune's insurance will cover the damage. "Riot damage normally isn't insured," he says.

http://www.npr.org

Seriously, Who Burned Down The Sony Building In London

Well, Don't Look At Me

"Firestarter" movie

Who burned down the Sony warehouse in London, England. You would think it was me, based on my other worldly rage towards them for stealing copyrights from me, as they have done to others, but it wasn't. Well, unless I have developed some dormant "Firestarter" ability that flares up when I'm angry. Just kidding and I was nowhere near England when the warehouse was torched.

However, I'm wondering out loud, due to the fact the Sony warehouse is not near the epicenter of the riots, meaning it was clearly targeted for destruction - and destroy it they did. The building was completely burned to the ground. Sony has become one of the most hated companies in the world, having made so many enemies, from writers to software developers they've criminally stolen copyrights and patents from to hackers they've upset in targeting GeoHoltz. So seriously, who did it.

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Sony CEO Howard Stringer

Sony is having a terrible year. The company's plants in Japan were seriously damaged by an earthquake and ensuing tsunami, hackers hacked many of their websites into a non-working state, whilst stealing 100 million customers financial and private data from their servers, which created massive financial loss, later reflected in their significant decrease in revenues.

If all that wasn't enough, a Sony distribution center in Canning Town, East London, was set on fire by people rioting for the fourth night in a row. For Sony, when it rains it pours. Beside News Corp, the Judiciary Report can't think of a company with more misery and trouble right now.

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Apple Trounces Sony

Apple, the maker of products such as the iPhone, saw a 47% surge in profits, catapulting their sales to $1.67 billion dollars in the last quarter. While uncreative competitor, Sony Ericsson, lost over $245,000,000 dollars in the last quarter on its substandard phones.

Sony C.E.O. Howard Stringer, who currently has the Sony legal department trying to battle over 100 lawsuits in America, for the willful theft of copyrights and patents, due to their nasty habit of stealing from everyone, must be kicking himself.

Had he successfully done his usual, in ordering one of the guys from their tech department, responsible for the DRM scandal and other computer intrusion incidents, to break into Apple's security and steal the plans for the iPhone, releasing it as their own before Apple launched it, they could have criminally taken credit and payment for it.

Apple's profit climbs 47% in its 'most profitable quarter ever'

Its earnings of $1.67 billion far exceed analysts' expectations. The increase is fueled by brisk back-to-school sales of the company's MacBook computers and the continued popularity of its iPhone.
Apple, Steve Jobs...

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Sony Ericsson Posts Fifth Consecutive Loss as Demand Falls

Oct. 16 (Bloomberg) -- Sony Ericsson Mobile Communications Ltd., the mobile-phone venture of Sony Corp. and Ericsson AB, reported a fifth straight quarterly loss on lower demand for its handsets and announced new financing.

The third-quarter net loss was 164 million euros ($245 million), less than analysts anticipated, compared with a loss of 25 million euros a year earlier, the company said in a statement today. The company arranged external credit totaling 455 million euros, partly guaranteed by its parent companies...

http://www.bloomberg.com

Sony Suffering Sales Losses

Howard Stringer

Sony and Sony Ericsson continue to suffer massive sales losses, in a terrible financial decline that refuses to abate. Sony's image in the world is so ugly now, people are not inspired to buy from them, due to their dirty corporate practices, such as copyright, patent and trademark infringement.

They've suffered a fresh string of embarrassing losses and defeats recently, posting huge sales declines and having to withdraw some of their product lines, due to the fact people are not buying them.

What is Sony CEO and resident animal's solution to this quagmire, fire more people and force out company junior CEOs, when the problem lays with him, as he is bar none one of the most corrupt, thieving, devious, despicable human beings on the planet. You and Sony are criminals.

Sony Ericsson Reshuffles Leadership, Looks to Tighten Product Line

08/17/09 2:27 PM PT - Executives at both Sony and Ericsson will take new leadership positions at Sony Ericsson, the duo's joint venture in the mobile handheld space. Ericsson's Bert Nordberg will become Sony Ericsson's president upon the retirement of current prez Hideki Komiyama. Meanwhile, Sony Chairman and CEO Howard Stringer will also serve as Sony Ericsson's chairman.

Bert Nordberg, a 14-year veteran of telecom system provider Ericsson (Nasdaq: ERICY) More about Ericsson, has been named president of Sony Ericsson, the firm's joint cellphone venture with the Japanese consumer electronics giant. He'll be succeeding Hideki "Dick" Komiyama, a Sony (NYSE: SNE) More about Sony executive who has led Sony Ericsson More about Sony Ericsson since 2007 and is now headed for retirement.

Nordberg will be co-president of Sony Ericsson -- a new position for the firm -- beginning Sept. 1 and will assume full responsibility on Oct. 15.

In another executive reshuffle, Sony Ericsson has also tapped Sir Howard Stringer, Sony's chairman and chief executive, to take over the chairmanship of the Sony Ericsson board. The role is currently held by Carl-Hendric Svanberg, the Ericsson chief executive, who is in line to become chairman of BP in the United Kingdom.

Although prompted by outside circumstance -- Komiyama's retirement -- the moves may be necessary for the venture to right itself in the face of sharply declining revenues.

Dwindling Commitment?

Sony Ericsson, now in its eighth year, has lost at least US$1 billion in the past 12 months. There have also been questions about the companies' -- particularly Ericsson's -- commitment to the endeavor because of their own recent struggles with market forces and falling cash balances, Ronald Gruia, principal analyst and program leader of Frost & Sullivan's More about Frost & Sullivan emerging telecoms and ICT practice, told the E-Commerce Times...

http://www.ecommercetimes.com

Sony Pulls The Plugs On OLED Due To Losses & Production Problems

18/08/2009 - Bleeding cash and TV market share, Sony has now said that they will not deliver a new OLED TV this year because of costs and production problems. New research has also revealed that 4 out of 10 Sony OLED TV panels made are dumped because of production problems.

Hailed 18 months ago as the breakthrough TV technology that would catapult Sony into a dominant position in the TV display market, OLED TV is now turning into a lemon for the Japanese TV maker who in Australia has seen their TV display market share savaged by Samsung.

Also in Australia Sony is struggling with several other products with the Company recently admitting that they have had to replace faulty Sony Walkman and Vaio Notebooks that are prone to melting.

In an admission to the Wall Street Journal Sony has said that they are set to delay the launch of its next organic light emitting diode, or OLED, television because mass producing the new ultrathin displays would exacerbate losses at its TV division.

In Australia the Company is trying to sell a tiny 11" OLED TV for $6,999 which is $2,000 more than some vendors are selling a 55" Full HD TV for, complete with a free Nintendo Wii gaming console...

In previous ChannelNews stories we reported that Sony Chief Executive Howard Stringer had said in May 2008 that Sony would have a 27-inch OLED television available within 12 months.

http://www.smarthouse.com.au