Electronics giant Sony reported a net loss of 98.9 billion yen ($1 billion) loss for the fiscal year ended March, marking its first loss in 14 years and projects even more losses this year amid a serious economic slump. Sony is closing three plants in Japan by the end of December -- one for cell-phone cameras, another for video recorder parts and another for systems used for smart cards. It continued to bleed in the game segment where the Playstation 3 and the PSP struggled against the Nintendo Wii and the DS and even the Xbox 360 in some markets. The company sold 10.06 million PlayStation 3 machines for the fiscal year through March, up 10 percent from the previous year. It also sold more PlayStation Portable machines, at 14.11 million during the fiscal year, up slightly from 13.81 million. Sales in this year were down across all the markets - 20% in the US, 17% in Europe and 14% in Japan.

[Yahoo]