Sony drops below 1,000 yen first time since 1980June 4, 2012 - 13:29 AMT PanARMENIAN.Net - Sony shares tumbled below 1,000 yen for the first time since 1980 as the Tokyo stock market plunged Monday, June 4 following a dismal performance from Wall Street and amid global economic concerns, AFP reported. The entertainment and electronics giant dropped 1.67 percent to close at 996 yen as the benchmark Nikkei index lost 1.71 percent on the Tokyo Stock Exchange on Monday. Dealers said Sony last traded below the psychologically important 1,000 yen level in August 1980 around a year after its landmark "Walkman" portable music player was released. The total market value of the company is now around one trillion yen ($13 billion), compared with 11 trillion yen in 2000, there year the PlayStation was released and shares hit a peak of 16,950 yen, dealers and news reports said. Sony posted a record full-year loss of 456.66 billion yen ($5.8 billion) for the year to March 2012 as it struggled with losses in its television division. Japanese companies have blamed tough competition from rivals including South Korea's Samsung, falling prices, slow demand, the impact of severe flooding in Thailand last year, and the high yen for their travails. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Concept to complete Yerevan Cascade discussed at city hall A conceptual proposal to complete the Cascade complex in downtown Yerevan has been presented by Jean-Michel Wilmotte. Pashinyan visits flood-hit region Armenian Prime Minister Nikol Pashinyan on Saturday, June 8 visited the disaster area in the Lori province. €3.5 mln EU grant to support justice reforms in Armenia The European Union has paid €3.5 mln grant to Armenia within a €11mln program on Support to Justice Reforms. Yerevan reacts to Baku’s proposal to see Minsk Group abolition Alen Simonyan has declared that Armenia is taking steps aimed at concluding a peace treaty with Azerbaijan. |