Wow... just wow... it seems as if Sony is losing even more money now. With Sony being behind in the console race, they will need to make up for it in other areas. With the Holidays over, you would think that would only help a company, but that doesnt seem to be the case.

On Thursday, Sony said that its net profit dropped 95% in the October-December quarter from a year earlier. Sony went into the red after poor sales from there TVs, digital camera and mobile phone.

The Japanese electronics icon said net profit sank to $115.6 million (10.4 billion yen) from 200.2 billion yen a year earlier during the fiscal third quarter. Revenues fell 25% to 2.15 trillion yen from 2.86 trillion yen.

Sony has gone on record for saying that its finances were going to be going down. The damage happened with some of there best brands like the Bravia TV sets not cutting it over the holiday season, which is a suprise with the Digital switch come February. Sony also said a lot of the red was due to the poor performance of there mobile phone joint venture with Ericsson.

In order to try to cut down on the loss, Sony plans on cutting 8,000 of its 185,000 jobs and shuttering five or six plants out of there 57. Chief Executive Howard Stringer told reporters a week ago the following:

"We had not gone far enough with cut costs and we would work harder to combine the company's diverse businesses." At that time, Sony said that for the full year, it would slide into 150 billion yen net loss from 369.4 billion yen profit the previous year.