Sony hide millions, face 4.5 billion yen fine - 1.7.05

Reports coming in from next-gen.biz suggest Sony are in for a rough ride ahead. The company has been found guilty of knowingly withholding millions of dollars in revenue, over a 5 year period. They have now been fined 4.5 billion yen ($40 million) for their troubles with back-taxes to boot.

This coming in just after the Merrill Lynch report, that suggested Sony could face a loss of up to $1.18 billion in the Playstation 3's first year on the market, can't make for a happy Kutaragi.

Put this with the news that Sony will lose about $95 per PS3, and Sony may have to tighten their belts just a little. Maybe only buy four Learjets instead of five.

Sony Hit by Tax Fine | Via Joystiq

By Gary (Email: Gary at igniq dot com)

	« Igniq.com Gaming News Sony hide millions, face 4.5 billion yen fine - 1.7.05 Reports coming in from next-gen.biz suggest Sony are in for a rough ride ahead. The company has been found guilty of knowingly withholding millions of dollars in revenue, over a 5 year period. They have now been fined 4.5 billion yen ($40 million) for their troubles with back-taxes to boot. This coming in just after the Merrill Lynch report, that suggested Sony could face a loss of up to $1.18 billion in the Playstation 3's first year on the market, can't make for a happy Kutaragi. Put this with the news that Sony will lose about $95 per PS3, and Sony may have to tighten their belts just a little. Maybe only buy four Learjets instead of five. Sony Hit by Tax Fine \| Via Joystiq Related: PS3 To Lose Over A Billion In The First Year? Cell, it's not just for Playstation anymore PS3 To Be Even More Powerful Than We've Seen? PS3 and Xbox 360, disappointing CPU performance? Discussion >> By Gary (Email: Gary at igniq dot com) Sponsored links: Concert Tickets Buy Wii Games Online Best prices: PS3 (60 GB) Console Place a link here