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Moody's slashes Sony rating, now one downgrade away from junk

Posted: , by Victor H.

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Moody's slashes Sony rating, now one downgrade away from junk
Moody’s, one of the big three credit rating agencies, has downgraded Sony’s rating to just a notch above junk. The downgrade to Baa3 from Baa2 happens after another downgrade for Son in October.

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.

"Without robust restructuring in the coming 12-18 months, Sony's non-financial services businesses will at best achieve roughly break even, and are also at risk of remaining unprofitable," Moody’s said in a report.

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.

source: Reuters

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posted on 09 Nov 2012, 05:09

1. buggerrer (Posts: 306; Member since: 21 Sep 2011)

LOL @ Sony

posted on 09 Nov 2012, 06:27 4

5. PhenomFaz (Posts: 1236; Member since: 26 Sep 2012)

Man SONY just lose the attitude and we now you can deliver awesomeness in eleectronics so DO IT!
I mean as of late sony has lost TV business to Sammy and LG, phones to Sammy, Apple, etc, digital cameras to Nikon, Canon, laptops to a whole lot of players but gaming consoles are ok though since there are only two major players.
Sony is taking a lot of time to bring out their Yuga and Odin which have specs like today's phones....by the time they release it could be too little too late...and their laptops quality have taken a turn for the worse...only the high end ones are good the budget ones feel like plastic toys which is not the case with other manufacturers

posted on 09 Nov 2012, 05:13 1

2. mydi.maus (unregistered)

sony pick the pace

posted on 09 Nov 2012, 06:11 4

3. byazatt (Posts: 298; Member since: 26 Oct 2012)

someone in Sony has been making a string of wrong decisions. for instance, late adoption of dual core smartphones while the ones available being unable to compete price wise. experia arc s costing same as galaxy sii in their day! meeeh

posted on 09 Nov 2012, 06:30 7

6. lee480 (Posts: 197; Member since: 24 Sep 2012)

lol what bulls**t...
Sony is failing not in mobile, in fact, it has beaten your favourite HTC and LG.... Get your facts right before spewing nonsense.

posted on 09 Nov 2012, 10:57

10. Commentator (Posts: 3722; Member since: 16 Aug 2011)

Yeah, during a quarter in which HTC and LG launched absolutely NO new products and Sony launched several. If the TL is the best they can do, I can't see their current drive maintaining traction.

This is unfortunate because I am a fan of both Sony's hardware and UI design.

posted on 09 Nov 2012, 06:17 1

4. deacz (Posts: 162; Member since: 02 Nov 2011)

Yea dunno I had both the Arc and the Gs2 and tbh I liked the arc more... go figure mainly because of the design with is still stellar.

posted on 09 Nov 2012, 06:30 1

7. byazatt (Posts: 298; Member since: 26 Oct 2012)

sure, Sony's design is a killer, but in this case I would be lost with sii any day.

posted on 09 Nov 2012, 09:04 2

8. XPERIA-KNIGHT (unregistered)

who cares what "moody's" think?

posted on 09 Nov 2012, 09:08 2

9. ryq24 (Posts: 773; Member since: 17 Oct 2011)

japanese electronic maker are going downhill. times are changing and it's the koreans and chinese that are growing. bad decisions ,poor marketing and expensive products are killing the japanese electronic makers like sony, panansonic and sharp. but having said that, quality wise japanese still rule! koreans like samsung just make great looking products but does not last as long as compared to their japanese counterpart.

posted on 09 Nov 2012, 15:18

11. GoBears (Posts: 454; Member since: 27 Apr 2012)

Ha yeah right. Every single sony product I have ever owned failed prematurely. Well except for my W600i lol. Still have that. As far as I'm concerned I've already slashed Sony to "junk" rating.

posted on 09 Nov 2012, 16:26

12. oister85 (Posts: 501; Member since: 27 Apr 2012)

That's right I agree with moody I own a sony tablet s and Walkman z there both are poor in software wise cellphones are always late. I hope sony gets better becouse that's my favorite brand

Att a sony fan

posted on 11 Nov 2012, 08:25

13. bipinm (Posts: 124; Member since: 07 Oct 2012)

Sony made many bad decisions earlier when Stringer was the CEO...They are paying the price for that now....But things are changing now...With the new CEO Hirai, Sony made a major restructuring and is ready to bounce back....

I know they can come back to the top...

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