Sony projects increased loss in FY 2014 on weak mobile business
17:14, 17 September 2014
TOKYO. KAZINFORM Sony Corp. said Wednesday it expects to book a 230 billion yen ($2.1 billion) group net loss for the current business year through next March, after earlier forecasting a 50 billion yen loss, as it now plans to book a big charge to write down the value of its mobile communications business.
That would be the sixth loss in seven years for the Japanese technology and entertainment company, which is struggling to rebuild its troubled electronics business. Sony logged a group net loss of 128.40 billion yen in the previous year, Kyodo reports. Sony said in a statement that it will book an impairment charge of about 180 billion yen, the entire amount of goodwill in the mobile communications segment, in the second quarter of this business year.