Tokyo (DAILYNEWYORKNEWS) – Sony expects a net loss of total U.S. $ 2.9 billion, citing the difficulties of national and international financial conditions. The Japanese electronics company said it expects a net loss of USD 220 billion yen, or $ 2.9 billion for the year ending March 2012. Previously, Sony states that 90 million yen (U.S. $ 1.2 billion).

Publication of third quarter results, Sony says that for the quarter ended in December 2011, lost 159 billion yen (U.S. $ 2.06 billion). And for the nine months ending December 2011, Sony announced a net loss of 201 billion yen (2,500 million U.S. dollars).

Sony cited a number of factors in the deteriorating outlook, as the Japanese yen and floods in Thailand.

The release of dismal financial news came shortly before the first press conference before they go back to Sony, Kazuo Hirai, and the general manager and past president, Howard Stringer.

Source: http://edition.cnn.com/2012/02/02/business/sony-earnings/index.html?hpt=ibu_c2