Sony a company that for decades has lead the way in technology, innovation and profit has been having a hard time of late and today credit firm Fitch has officially downgraded Sony’s stock to Junk levels meaning that Sony will seriously struggle to raise more credit moving forward.
The new rating of BB- comes after Sony reported their 7th straight quarterly loss and according to Fitch Sony now lack much influence over the technology market mainly due to the crushing advances made by Apple and Samsung over the last few years.
All the rest of information is a bit beyond my financial knowledge but I know they rate countries with the same sort of rating so let’s see what countries Sony is now being compared to. Remember this isn’t an indication of the worth of the economy but rather the chance of that economy defaulting on its debt.. like Greece just did.
Or going into total collapse such as Zimbabwe a few years back.
Countries with a BB- Rating
- Sri Lanka
So here’s 10 million, you can invest it in any of those countries or Sony.. or just stick it in the bank and take your 4% interest. Which would you do if it was all the money you had?
The only bright spark in Sony’s current line up is the PlayStation brand which is currently being devalued with two failed PSP replacements in a row. Is the PlayStation 4 Sony’s last attempt at staying in the game?
I'm cranky, arrogant and ever so amazingly annoying but when you get to know me you will also realise I'm honest and incredibly good at describing myself... now pass me that beer