Sony's profit in the fourth quarter of 2008 amounted to 10.4 billion yen (115.6 million dollars). A year ago the figure was 200.2 billion yen. Thus, the company's profit for the year decreased by 95 percent. AP reported, citing a financial report on Sony.
Sony's revenues over the last three months of 2008 equal to 2.15 trillion yen, a quarter less than a year ago. In the last quarter of 2007 revenues Sony was 2.86 trillion yen.
The decline in revenues during the crisis anticipated leadership of Sony. Previously, the company said that for the first time in 14 years, Sony could complete the year with losses.
To reduce costs Sony is planning a restructuring, which will close about 10 percent of its 57 plants and cut eight thousand employees. In addition, the crisis has forced Sony to postpone the year of establishment of a joint venture with Sharp to produce LCD panels.
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