Sony Posts $1 Billion Loss, It's First in 14 Years

Sony today announced its first annual loss in 14 years. The company reported a $1 Billion annual loss for its fiscal year through March due to the lack of consumer demand for electronics.

Despite the huge loss, it was less of a loss than they had actually expected back in January when it had announced it would be cutting its workforce by 8,000 and closing 10% of its factories.

Sony's stock (SNE) was down 2.9% to 25.10 in morning trading. It's been trending downward for the last several days after a slight uptrend that started back in April.

I would expect to see a continual lack of consumer spending in the electronics market until late 2010 when the market begins to recover completely.