Sony shares slide most in four years

After reporting eighth consecutive quarterly loss, PlayStation maker shares dive more than 10 percent.


Following its eighth consecutive quarterly loss, Sony shares have fallen by more than 10 percent. That represents the single most precipitous drop in over four years, Bloomberg reports.

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Shares on the Tokyo Stock Exchange fell today from ¥1,519 ($16) to ¥1,365 ($14), the biggest dip since November 2008. Sony this week reported a quarterly loss of ¥10.8 billion ($116 million) and slashed its PlayStation Vita sales forecast by an additional 3 million units.

Sony said it saw the "slow penetration" of the PS Vita as an ongoing issue, and promised to support the handheld device with more software. The company expects to sell a total of 7 million PS Vita units by the end of March.

Sony is expected to announce the PlayStation 4 during a media briefing on February 20 in New York City. Next-generation consoles are expected to provide a jolt not only to platform holders, but also to the industry at large, which has seen overall sales slide for months on end.

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