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Sony Corp warns of sizeable year-end loss, will sell PC business

By | Published on Thursday 6 February 2014

Sony Corp

Despite a temporary bout of optimism last year, more doom and gloom at Sony Corp, which has just announced that it expects make a loss of £665 million for the financial year due to end on 31 Mar. Which is no fun at all.

It’s still the electronics side of the Sony business that is causing most of the woe, and while its smartphones division has seen a sales uplift, its PC and TV units are still struggling. Indeed the former is to be sold off, while restructuring that will cut 5000 jobs on the consumer electronics side of the business is also expected.

By comparison, the conglom’s US-based global entertainment businesses are doing alright. Though rumours remain that bidders are still on the sidelines interested in acquiring some or all of the Sony music, TV and movie companies. Sony Corp HQ has always denied it has any interest in selling its non-Japanese entertainment assets to shore up its electronics business, and indeed even knocked back a suggestion it sell-off a slice of that side of the Corp through a US-based flotation, a proposition made by mouthy shareholder Dan Loeb.