TOKYO, May 4 (AFP) : Sony on Thursday warned it would report a bigger-than-expected annual loss, blaming costs tied to its exit from the personal computer business, as the once-mighty firm undergoes a painful restructuring.
The Japanese electronics giant said it would book a 130 billion yen net loss ($1.27 billion) in the latest fiscal year to March, while it slashed its operating earnings outlook.
The figure is worse than a 110 billion yen net loss forecast just three months ago, when Sony also announced it would cut 5,000 jobs in its struggling computer and television units.
The move came after Moody downgraded its credit rating on Sony to junk, saying the maker of Bravia televisions and PlayStation game consoles had more work to do in repairing its battered balance sheet.
Sony warns of deeper loss as it exits PC business
FE Team | Published: May 05, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
Share if you like