Moody's slashes Sony rating, now one downgrade away from junk
The main reason Moody’s quoted is quickly declining sales of Sony consumer electronics. Smartphones might be the only exception in the Japanese company’s business as it cut its forecasts for sales of digital cameras, TVs and gaming consoles.
Sony’s Xperia smartphones at the same time grew and the company sold 8.8 million devices in Q3 2012, becoming the world’s fourth-largest smartphone maker after Samsung, Apple and Huawei.
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