30 JAN

Sony missed writing on the wall for DVD sales, takes nearly $1B writedown

Sony has finally figured out what the rest of us already knew—people just aren’t buying physical media like they used to.

In a Monday statement to investors, the company attributed the “downward revision…to a lowering of previous expectations regarding the home entertainment business, mainly driven by an acceleration of market decline.”

As such, the Japanese corporate giant is taking a $ 977 million (112.1 billion yen) writedown in its movie business. That’s driven in large part by the fact most of us are watching a lot of movies and TV shows via streaming services these days.

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Ars Technica

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Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.