Sony shares drop to 31-year low
May 11 , 2012
Sony shares have dropped to a 31-year low after the company reported an annual loss of $5.7 billion.
Shares in the company fell by as much as 6.7 percent on the Tokyo Stock Exchange.
Sony has reported consecutives losses for the past four years but has forecast it will return to profit in the current financial year.
Analysts however are sceptical, saying the Japanese electronics maker has lost ground to rivals in the TV, gaming and mobile phone business.