Sony prices set to rise

Rew

http://www.engadget.com/2008/12/09/sony-to-shed-8-000-jobs-increase-prices-in-bid-to-bolster-profi/

http://www.reuters.com/article/marketsNews/idUSTFA00309520081209

TOKYO, Dec 9 (Reuters) - Sony Corp said on Tuesday it would raise prices of some electronics products in Europe from the beginning of 2009. (Reporting by Taiga Uranaka)

Looks like now is the time to buy a Sony telly... Hopefully the other manufacturers wont follow them.

Zonda999

Heard about this on avforums. Apparently, all Bravia tellys are going up by a third. Lets hope that other manfacturers dont follow them because if they dont, sony will have no choice but to remain competitive. If, say, Samsung dont raise their prices, then Sony are fooked IMO. At this stage, i think samsungs tvs are as good as sonys.

Rew

Agreed. Sony need to cut 50% of theit models anyway, its getting out of hand.

ongarite

I imagine Panasonic will have to do the same.
Sterling has lost 40% of its value Vs Yen in the last year, 15% against dollar & 25% against euro.
Thats a massive bottom line loss without even getting the product to the shops.



Edit:
Looking at the Korean WAN, the chart looks identical also. WAN has gained around 30% against dollar, euro & sterling in the last year.

Zonda999

:eek::eek:

Good thing i'm buying my 1080p hdtv this month anyway! Upon hearing about this, i'll definitely be getting it straight away after Christmas.

Onikage

Raising prices when people are trying to save money? Genius.

Although it is more likely to be a bluff tactic to spur short-term sales and reduce the number of immediate job cuts necessary.

http://business.inquirer.net/money/breakingnews/view/20081209-177020/Sony-layoffs-may-spur-Asia-tech-job-cuts

doc crock

Glad i just ordered my new screen , this is a trend we will see alot more of next year , its out of control! Prices stay low when they can sell in bulk , when lots of people stop spending the whole thing grinds to a halt , think car industry:eek:

ongarite

Its no bluff that Sony are going to raise prices. They won't be the only Japanese company to do so either IMO.
Its simple economics and with the current trend in yen against dollar, yen something had to give given they are operating at a loss.

Sony makes TV for fixed yen cost which we will say is £400, sells to retailer for £600. Over the last year that £600 has lost 40% of its value when converted back to yen leading to a loss on every TV sold.

Either Sony raises prices or goes out of business. OR Japan devalue the yen to help all struggling Japanese companies like Sony, Panasonic, Sharp, Toyota, Honda, etc...