April 10, 2012, Sony announced the biggest loss in its history!

Sony says it lost about $6.4 billion USD for their quarter ending in March!  That’s $4 billion more than they first estimated back in February.

Sony officials blame the monster loss on huge declines in sales in the United States!

Another Japanese company, Sharp, says it will post record loses as well.

Sharp says loses could be as high as $4.6 billion USD, much higher than first thought back in February!

They also blame lack of economic recovery, saying their TV sales have crashed!

Sharp is now forced to sell controlling stake in its liquid crystal panel factory to a Taiwan company, Hon Hai Precision Industry.