Sony (SNE) Expected to Cut TV Shipment Outlook Drastically; Shares Down 1.5%
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On the heels of a revised FY10 outlook Monday, Sony (NYSE: SNE) shares are lower once again Wednesday as the electronics manufacturer drastically cutting its FY11 TV shipment target.
According to sources cited in a Digitimes report, Sony is expected to lower its FY10 LCD TV shipment target by 20 to 30 percent. Sony currently is expecting shipments of 30 million units in FY11.
The revision may be due in part to the lack of revival in the European and U.S. economies despite the global recovery, sources said.
Needless to say, supply shortages in Japan have crimped production ability for high-end models, which Digitimes notes will not resume until August or September.
Sony shares are down 1.5 percent, or 41 cents, to $27.49 in early trade Wednesday.
According to sources cited in a Digitimes report, Sony is expected to lower its FY10 LCD TV shipment target by 20 to 30 percent. Sony currently is expecting shipments of 30 million units in FY11.
The revision may be due in part to the lack of revival in the European and U.S. economies despite the global recovery, sources said.
Needless to say, supply shortages in Japan have crimped production ability for high-end models, which Digitimes notes will not resume until August or September.
Sony shares are down 1.5 percent, or 41 cents, to $27.49 in early trade Wednesday.
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