Not great times at for Sony at the moment. The Japanese giants shares fell to a 32 year low after posting record annual losses of .8 billion yesterday. Ooops.

We all know that Sony were making a loss on every PS3 sold, but the main culprit for Sony’s bad fortunes is it’s TV business. Another factor of course is the ultra competitive phone market where Apple and Samsung reign supreme. Factor in the poor sales for the PS Vita and things are looking pretty bad in camp Sony.

On the plus side however, the firm reported an annual profit, the first for five years for the 12 months ending March 31st.

Analysts at Goldman Sachs said

“In our view, guidance for profit improvement in digital cameras, games, li-ion batteries and smartphones looks optimistic and we see downside risk. We think TV losses may be smaller than the company forecasts … but we see significant downside risk to overall guidance.”

I wish I could tell you what all that means, but I have no clue. Fingers crossed Sony manage to turn around their fortunes soon.