12/21/2014

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Technology

Sony sinks to $1.3 billion quarterly loss on PC expenses

Sony sinks to $1.3 billion quarterly loss on PC expenses
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TOKYO (AP) - Sony Corp. sank to a 138 billion yen ($1.3 billion) quarterly loss, hit by costs from selling its personal computer business, and is forecasting more red ink as it struggles to execute a long-promised turnaround.

The Tokyo-based maker of the PlayStation 4 game machine, Bravia TVs and Walkman digital player also reported Wednesday a loss of 128.4 billion yen ($1.3 billion) for the fiscal year through March 2014, about three times its loss of 41.5 billion yen the previous year.

It forecast a 50 billion yen ($490 million) loss for the year ending March 2015 as overall sales are expected to be flat without its Vaio PC business.

Earlier this month, Sony said it would report a bigger annual loss than forecast because of expenses that stemmed from selling Vaio, such as restructuring charges and dealing with excess inventory in components.

The PC-related losses are expected to continue this fiscal year, totaling 80 billion yen ($784 million), on top of the 92 billion yen ($900 million) for the fiscal ended March 2014.
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