{"id":14379,"date":"2012-06-04T07:38:43","date_gmt":"2012-06-04T05:38:43","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=14379"},"modified":"2012-06-04T10:26:15","modified_gmt":"2012-06-04T08:26:15","slug":"sony-shares-lowest-since-1980","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/trending\/14379\/sony-shares-lowest-since-1980\/","title":{"rendered":"Sony shares lowest since 1980"},"content":{"rendered":"<p><a title=\"Sony Corp\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/1633-Sony\">Sony<\/a> shares tumbled below 1,000 yen for the first time since 1980 as the Tokyo stock market plunged early Monday following a dismal performance from Wall Street and amid global economic concerns.<\/p>\n<p>The entertainment and electronics giant dropped 2.3 percent to 990 yen shortly after the opening bell, before recovering to 1,001 yen as of 11:20 am (0220 GMT).<\/p>\n<p>Dealers said Sony last traded below the psychologically important 1,000 yen level in August 1980 around a year after its landmark &#8220;Walkman&#8221; portable music player was released.<\/p>\n<p>Sony posted a record full-year loss of 456.66 billion yen ($5.8 billion) for the year to March 2012 as it struggles with losses in its television division.<\/p>\n<p>Japanese companies have blamed tough competition from rivals including South Korea&#8217;s Samsung, falling prices, slow demand, the impact of severe flooding in Thailand last year, and the high yen for their travails.<\/p>\n<p>The stronger yen hits Japanese exporters by making their products more expensive overseas, while eroding the value of foreign-earned profits.<\/p>\n<h3 class=\"my-4\">Related articles:<\/h3>\n<p><strong><a title=\"Sony, Panasonic plan OEL TV tie-up\" href=\"http:\/\/businesstech.co.za\/news\/hardware\/12453\/sony-panasonic-plan-oel-tv-tie-up\/\">Sony, Panasonic plan OEL TV tie-up<\/a><\/strong><\/p>\n<p><strong><a title=\"Sony expects return to profit, cutting TV losses\" href=\"http:\/\/businesstech.co.za\/news\/electronics\/12121\/sony-expects-return-to-profit-cutting-tv-losses\/\">Sony expects return to profit, cutting TV losses<\/a><\/strong><\/p>\n<p><strong><a title=\"\u201cSony will change\u201d \u2013 CEO\" href=\"http:\/\/businesstech.co.za\/news\/electronics\/9628\/sony-will-change-ceo\/\">\u201cSony will change\u201d \u2013 CEO<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sony shares tumbled below 1,000 yen for the first time since 1980 as the Tokyo stock market plunged early Monday following a dismal performance from Wall Street and amid global economic concerns<\/p>\n","protected":false},"author":6,"featured_media":9369,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[25,385,709,3014],"class_list":["post-14379","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-active","tag-sony","tag-stocks","tag-tokyo-stock-market"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/14379","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=14379"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/14379\/revisions"}],"predecessor-version":[{"id":14388,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/14379\/revisions\/14388"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/9369"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=14379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=14379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=14379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}