(MENAFN) Sony is expected to post a higher-than-expected annual loss on higher costs after exiting personal computer business, according to Oman Observer.
The Japanese electronics giant said it would book a USD1.27 billion net loss in the latest fiscal year to March.
The company also said it will cut 5,000 jobs in its struggling computer and television units.
Sony added: "Primarily due to demand for physical media contracting faster than anticipated, mainly in the European region, the future profitability of the disc manufacturing business has been revised."
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.