Poof! Sony lost $390.5 million in the first quarter compared to a profit of almost $800 million in Q1 last year. TV sales are way down along with still and video cameras. Samsung, it seems, is kicking their butt.

The NYT sez:

Sony said its video game and computer sales slumped 37.4 percent year-on-year to ¥246.8 billion, due to lower game console and VAIO PC sales. In its gaming business, sales of the PlayStation Portable and PlayStation 3 game consoles were particularly sluggish, and software sales decreased. The company said it sold about 1.1 million PlayStation 3s and 1.3 million PlayStation Portables in the first quarter, compared to 1.6 million and 3.7 million, respectively, in the same period last year.

Oh. And BTW. Sony is about to cut 16,000 jobs and cut some of its 57 factories. Sucks to work for Sony.