News Summary: Sony dips below 1,000 yen

Associated Press
People are reflected on the electronic board of a securities firm displaying Sony's stock price at 999 yen in Tokyo, Monday, June 4, 2012.  Sony's stock price fell below 1,000 yen for the first time since 1980 in a symptom of its decline since huge success with the Walkman three decades ago. Sony's shares dipped to 990 yen Monday before recovering slightly on the Tokyo market. (AP Photo/Koji Sasahara)
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People are reflected on the electronic board of a securities firm displaying Sony's stock price at 999 yen in Tokyo, Monday, June 4, 2012. Sony's stock price fell below 1,000 yen for the first time since 1980 in a symptom of its decline since huge success with the Walkman three decades ago. Sony's shares dipped to 990 yen Monday before recovering slightly on the Tokyo market. (AP Photo/Koji Sasahara)

THE TUMBLE: Sony's stock price fell below 1,000 yen for the first time since 1980 — the year after it introduced the iconic Walkman portable cassette player.

WHAT HAPPENED: Sony Corp. has faced competition from Apple Inc. and Samsung Electronics Co. A strong yen, which erodes overseas income, and natural disasters at home and in Thailand, a key manufacturing hub, have added to its woes.

THE OTHER END: The stock had peaked at 16,950 yen in March 2000.

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