Toshiba going down the drain

     I read recently in The New York Times that the Company Toshiba has recently reported a whopping 99% decrease in profits for the fourth quarter. These sales have been attributed to poor mainstay chips operations. I also read that its main competitor, Fujitsu has also had a sharp decrease in sales also contributed to the same fact.

     As of now, there are going to be possible cuts to its plan of 367 billion yen(3.70 billion dollars) for improvements to the computing chips. Incredibly, prices dropped 45% in the 6 months leading up to september 30th. It has also posted a net loss of 26.9 billion yen compared to a profit of 25.0 billion last year

     Toshiba is still quite hopeful about the holiday season and hopes to ride out the storm of bad sales and maybe pull out even.

1 dollar = 99.12 yen