On CE - For Dealers, Distributors and OEMs of Consumer Electronics throughout EMEA

Sony reports its fiscal Q1 2011 losses total -$191m-- saying such results reflect the impact left by the Japanese earthquake last March.

The company's consumer product sales are down by -17.9% Y-o-Y.

Decreasing LCD TV revenues (due to price declines) also make part of the decline, according to Sony-- reflecting deteriorating market conditions in both Europe and the U.S.

Also on the slowdown are PC and camcorder sales, while last March saw hackers attacking Sony's online gaming and media-on-demand services (Playstation Network, Sony Online Entertainment and Qriocity).

Sony Ericsson also sees losses for Q1 2011-- reaching -$38m for Q1 2011, while sales decrease by 32.1% Y-o-Y. The company says this is due to both a decrease in component supply (due to the earthquake) and declining feature phone shipments due to the increasing focus on smartphones.

Go Sony Fiscal Q1 2011 Results

Google TV proves to be a flop for Logitech, with returns for its Revue "higher than the very modest sales", according to Logitech's Q1 2011 earnings.

Logitech's Q1 2011 net losses total -$30m-- in comparison to Q1 2010's $20m profits.

The company's EMEA sales show losses of 14% Y-o-Y, due to "sustained weakness in the region" dampening customers' spending. Meanwhile its WW sales remain flat.

In hopes to improve Revue sales, Logitech will shoulder $34m in one-time charges in order to slash its price from $250 to $99-- a move commentors say could be too little, too late.

In the wake of such news Logitech' CEO Gerald Quindlen resigns. Chairman Guerrino De Luca (who headed the company in 1998-2008) will replace him until the company finds a permanent replacement.

Go LogitechQ1 2011 Results

The Financial Post follows the US government's debates over the debt ceiling and comes with a surprising conclusion-- Apple is richer than the world's largest sovereign government.

The U.S. Treasury states the government has an operating cash balance of $73.8Bn.

Meanwhile Apple's latest earnings report says the company has $76.2Bn in cash and marketable securities at the time of writing.

This cash pile is also greater than Goldman Sachs' market cap while in comparison, Google's cash pile comes to around $39Bn. With a market caplitalisation at $363Bn, it's also the world's second largest company, following Exxon Mobil.

How come? Simply put, Apple earns more money than it spends, while the U.S. government fails to do so. Maybe Obama should ask Steve Jobs for a loan?

Go Apple Now Has more Cash Than the U.S. Government (Financial Post)

Metro Group announces Media-Saturn's Q2 2011 figures-- with record losses reaching -€44m, while confirming further employee cuts for the year.

Profits for Q2 2010 total €41m.

The company says the drop in earnings is due to a strong decline in like-for-like sales (especially in Germany), together with higher operating losses in France, start-up losses in China and increasing expenses, as Media-Saturn implements its multichannel strategy.

Metro now aims for Media-Saturn's becoming Europe's online retail leader, with company forecasts predicting online sales reaching €5Bn by 2015.

Saturn.de should start operating in Germany in October 2011, and MediaMarkt.de by January 2012. Metro will also expand further on its earlier online retail purchase, redcoon.

Media-Saturn is also counting losses of another count-- employee reductions, as it plans to cut 3000 jobs Europe-wide, directly as a results of its Q2 2011 losses.

Staff reductions already started earlier this year, and will continue til 2011's end, as the company is not replacing leaving staff.

Go Media-Saturn 2011 Earnings