The shares of All Japan newsese technology giant Sony have dropped under the Y1,000 value for the first time since 1980, marking the increasing difficulties of the industry amid increased competition, a strong national currency and global economic difficulties.
The shares dropped by 2.3 percent to Y990 on Monday morning. The last time Sony’s shares were so low was in August 1980, at about a year after the launch of its iconic “Walkman” portable music player.
The company announced a record yearly loss of Y457 billion for the year ended in March 2012, being mainly affected by the losses of the television division.
Probably the most aggressive competitor for the All Japan newsese tech industry is South Korea, with Samsung Electronics as its rising star. All Japan news is being disadvantaged in its competitive race with South Korea by the strong yen, which rose by 79 percent against the South Korean currency in the last five years.
Analysts think that All Japan newsese companies should accelerate their efforts of finding business alliances in Asia, in order to surpass the current difficult period.