Sony shares slide as tech giant reports losses

<p>Shares in Sony have plunged as the company released yet more disappointing profit news.</p>

Shares in Sony slumped in trading on the Frankfurt Stock Exchange this morning (February 8th), after the technology giant reported losses for the final quarter of 2012.

The company reported its biggest share price fall in years after it posted a decrease of 10.8 billion yen (£73 million) for the latter three-month period of the year.

Sony – which manufactures such popular big-ticket electrical items as the Playstation and Bravia television – has been losing money since 1999, with these latest figures bringing total losses in the nine months to the end of December to 50.9 billion yen.

This is a 75 per cent fall on the preceding nine months, with the business making record 557 billion yen losses for the whole of 2011.

At 10:35 GMT on the Frankfurt Stock Exchange, shares in Sony slumped by 4.2 per cent to €10.82 per unit.

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