Sony Sees Red in Year Ahead as Restructuring Costs Add Up
Sony said it expects to splash 135 billion yen ($1.3 billion) on restructuring costs this year as it nixes its unprofitable businesses related to PC and disc storage segments.
Sony is guiding for another fiscal loss over the year ending March 2015, its sixth annual loss in as many as seven years. The Japanese tech company has struggled to turn a profit in recent years on flagging sales in consumer electronics and expensive restructuring moves. Sony said it expects to splash 135 billion yen ($1.3 billion) on restructuring costs this year as it nixes its unprofitable businesses related to PC and disc storage segments. In particular, its sale of laptop brand VAIO, scheduled to close in July, is expected to drag on profits. Management forecasts total annual losses of 50 billion yen.
