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Sony's financials battered, forecasts losses until 2015

Sony will continually struggle financially, as it quits business sectors, and relies heavily on the Sony PlayStation 4 game console.

Published Wed, May 14 2014 8:39 PM CDT   |   Updated Sat, Aug 8 2020 10:29 AM CDT

Japanese electronics giant Sony expects a massive $489 million loss during this financial year, as company CEO Kazuo Hirai struggles to turn his company around. Meanwhile, Sony will spend up to $1.32 billion to try and restructure through March 31, 2015, and financial analysts believe it will take some time before Sony can try to recover.

Sony's financials battered, forecasts losses until 2015 | TweakTown.com

Earlier in the year, Sony confirmed it would sell off its PC unit and TV business, along with laying off 5,000 employees. The VAIO PC sale will be completed by July, as Japan Industrial Partners will try to add some sales and marketing power to the brand.

Here is what Sony CFO Kenichiro Yoshida said during a financial call: "In previous years the restructuring was mostly within business units and in manufacturing. This time the difference is that we are quitting businesses entirely."

An experienced tech journalist and marketing specialist, Michael joins TweakTown looking to cover everything from consumer electronics to enterprise cloud technology. A former Staff Writer at DailyTech, Michael is now the West Coast News Editor and will contribute news stories on a daily basis. In addition to contributing here, Michael also runs his own tech blog, AlamedaTech.com, while he looks to remain busy in the tech world.

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