Profits up but prospects bleak for Japanese electronics makers
— Financial Times
So near, Sony, yet so far. The market logic was clear enough: if Panasonic and Sharp, its two lossmaking rivals, managed to pleasantly surprise with operating profits, surely the one outfit bold enough to still bet on a full-year net profit by March could blow them out of the water. Sony’s operating loss thus landed more like the splat of an exploding water balloon.