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Monday, September 08, 2008

Sony Shares Hit 3yr Low After Vaio Laptop Recall

Sony’s stock hit a three year low today after the company announced a recall of 438,000 Vaio As hard as it may be to believe, company officials are saying that the impact will be minimal.

The company said the impact on its earnings from the latest recall would be limited. But some market participants voiced concerns about Sony's reputation because the recall hit one of its main businesses and the company was slow to report the defect.

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