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Despite strong PlayStation 4 launch, Sony’s credit rating drops to ‘junk’ status

Venture Beat-

Sony had a successful PlayStation 4 launch during the holiday season, but Moody’s Investors Service has still cut the Japanese company’s credit rating to “junk” status.

Japan’s largest electronics maker is still struggling to win in the smartphone and tablet markets, even as demand is shrinking for TVs and personal computers. That’s a bad sign for the venerable Japanese brand created by pioneers Akio Morita and Masaru Ibuka in 1958.

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Crazay2655d ago

No big shocker there. They're likely losing money on each system sold, they really haven't been able to compete in the mobile markets, Laptops and computers aren't doing much for profitability because of competition and their TVs aren't a step above the rest the way they used to be.