Sony's share price fell to the seven-year low after the company released below target earnings and lagging sales. The company's shares fell 20 percent on the Instinet electronic trading platform to 2,950 yen, and down to 3,220 yen on the Tokyo Stock Exchange. Sony did report a consolidated net profit of 115.5 yen ($964 million) but it fell short of its 180 billion yen target.
The electronics division was to blame for the company's performance and offset the profit earned from the Spider-Man film and PS2 division.
Sony has unveiled a three-year, $10 billion plan to streamline investment, with hefty spending on microchips and technology research.
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