Summary Box: Sony sees worst loss ever

The Associated Press
April 10, 2012
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A large sign of Sony is decorated in the main lobby of the headquarters of Sony Corp. in Tokyo Tuesday, April 10, 2012. Sony more than doubled Tuesday its projected annual loss to 520 billion yen ($6.4 billion), its worst red ink ever, due to a massive tax charge. (AP Photo/Koji Sasahara)

BAD OUTLOOK: Sony Corp. more than doubled its projected annual loss to 520 billion yen ($6.4 billion), which would be its worst loss ever.

THE REASON: A massive non-cash tax charge, which the company says stemmed from revaluing U.S. tax credits that are unlikely to be used because of its string of annual losses.

THE TRENDS: This would be the fourth year of losses for Sony. It has for years been struggling to regain the swagger and creative flair that made it a dominant force in the global electronics industry in the 1980s and early 1990s.