SONY POSTS $2.5 BILLION LOSS

Sony's president Kazuo Hirai has what many would say is a near insurmountable task ahead of him.

While Sony continues to have a huge amount of mindshare and is an incredibly robust brand, the company is struggling.

Coping with a combination of slowing TV sales, hacker attacks on its entertainment networks, component shortages from the severe flooding in Thailand and the deadly Japan tsunami, a global recession and a strengthening yen, saw Sony post a loss of 159 billion yen, or about NZ$2.5bn, for the financial year.

According to Hirai: "Consolidated sales decreased significantly year-on-yer primarily due to the impact of the floods in Thailand, deterioration in market conditions in developed countries, and unfavourable foreign exchange rates,".

With this the fourth year in a row Sony has posted a loss, Hirai, at age 51, will need to make some tough decisions.

The need for this hasn't been wasted on Hirai.

"Sony must steer a new course," Hirai said at a post-results new conference.

"We will need to make painful decisions and execute them, but I believe these are unavoidable for Sony's future."