(MENAFN) The Japan-based electronics giant, Sony, warned that it would remain in the red for another year as it posted a USD1.26 billion annual loss, blaming it to costs tied to its exit from the personal computer business, Arab News reported.
Sony posted a net loss of USD1.26 billion in the past fiscal year ended March 31, while it expects to lose USD490.2 million in the current fiscal year to March 2015, despite narrowed-loss in its hard-hit television business.
According to the firm, revenue rose 14.3 percent to USD760.7 billion attributing it to a weak yen, record sales for the new PlayStation 4 games console and strong smartphone sales.
"Sony is getting out of its restructuring phase, but compared with Panasonic, its operating profit forecast for the year to March 2015 is not very impressive," said general manager of investment market research department at SBI Securities.
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