// IP Marketing video - START// IP Marketing video - END

Sony warns of worse-than-forecast losses

Sony warns of worse-than-forecast losses

PanARMENIAN.Net - Sony Corporation warned of worse than forecast losses for the financial year to March 2014, Variety reported.

The profit warning and revised forecast came only three months after its February guidance and two weeks ahead of the formal results announcement for 2013-14.

The company said that it had lost Y130 billion ($1.27 billion), compared with a previous forecast of Y110 billion ($1.08 billion). In the previous year to March 2013 it ground out profits of Y43 billion (430 million).

Sony said that it was booking an additional Y30 billion of expenses to exit the PC manufacturing business. It is also taking a Y25 billion impairment charge mainly related to its overseas disc manufacturing business, which is being hit by decreased demand for physical media.

The steeper than previously forecast losses came despite a 1% upward revision to sales and operating revenue. Sony said that sales totalled Y7.77 trillion ($75.9 billion), a 14% improvement on the previous financial year.

Detailed results for the year will be unveiled on May 14.

 Top stories
A source familiar with matter claims that Google will claim it provides enhanced range over typical Wi-Fi routers.
In terms of fixed broadband Internet per 100 inhabitants, Armenia's index is 9.58, while the index of mobile broadband stands at 41.29.
The program is an opportunity for the start-ups to build their products, improve skills get funding for developing their business ideas.
Given that the iPhone 7 has a 1,960 mAh battery, Apple probably wanted the battery case to actually be able to fully charge your iPhone.
Partner news