Sony increases net loss forecast to 130 billion yen

Breaking News May 01, 2014 00:00

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Tokyo - Sony Corp Thursday increased its predicted net loss to 130 billion yen (1.27 billion dollars) for the last financial year due to additional costs on its personal computer business and disc manufacturing.



In February, Sony estimated a net loss of 110 billion yen for the year to the end of March.

The maker of PlayStation consoles said it expected to post about 30 billion yen in additional expenses related to exiting the personal computer business and 25 billion yen in additional costs related to its disc manufacturing business.

The company said in February it was divesting its PC division as part of restructuring to focus on the smartphone market.

Sony also revised down its operating profit outlook to 26 billion yen from 80 billion yen predicted in February, while sales were expected to reach 7.77 trillion yen, up slightly from 7.7 trillion yen estimated three months ago.

Sony is to report its earnings on May 14.

DPA

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