No relief for Sony

Sony (SNE) posted another horrible quarter. Revenue dropped 19 percent to $16.7 billion and the consumer electronics and entertainment company had a net loss of $343 million.

A higher U.S. dollar hurt Sony's results, but the root cause was continued weakness in divisions the firm is still unable to turn around. The results in the company's consumer electronics division were especially alarming. The units include TV and digital cameras. Revenue dropped 27 percent to just over $8 billion and the division had an operating loss of $20 million. Sony competes with lower-cost producers, especially in Korea, and it has not been able to come out with hit products to command premium prices. The success of the Walkman is a distant memory.