Sony Loses Millions, Income Down 77%

Sony has released the financial results for the April-June 2012 period which, due to the mysterious nature of calendar - fiscal year relations, is considered the company's first quarter of 2012 instead of the second one.

Things aren't looking up at all for the multi-faceted technology corporation, as once again it has registered a significant loss.

In fact, due to the sales and restructuring costs of the Mobile Products and Communications Division, operating loss was of $312 million / 245 Million Euro.

That means that income plummeted 77.2 percent lower compared to the same period of last year (2011).

Ironically, combining the Mobile Products and Communications Divisions ended up completely counterbalancing a brief surprise boost in sales.

That said, Sony's whole fiscal year estimates have taken a dive. Sales predictions are now 27.8% lower than the forecast made in May.