Sony has suffered a 138 billion yen quarterly loss because of expenses related to exiting the personal computer business.
The Tokyo-based maker of the PlayStation 4 games console, Bravia TV and Walkman digital player also reported a loss of 128.4 billion yen for the fiscal year to March.It had recorded a 41.5 billion yen profit the previous fiscal year and a 93 billion yen profit for January-March last year.
The company had originally predicted it would swing to a 110 billion yen loss this year, but earlier this month it acknowledged it would end up with more red ink for the fiscal year than it had earlier forecast because of costs related to its Vaio PC operations and a drop in the value of its overseas disc manufacturing business.
The firm announced it would withdraw from the PC business in February despite the Vaio brand’s popularity among some Sony fans, especially in Japan, and the deal to sell Vaio to Japan Industrial Partners was signed earlier this month with the transaction is set to be completed in July.
The losses come despite an improvement in sales, which rose 14 per cent to 7.7 trillion yen for the fiscal year, and the favourable exchange rate for Japanese exporters, which boosts the value of overseas earnings.
Sony said it trimmed losses at its TV operations, which have been struggling for nearly a decade, a big problem for a company that built its reputation on the image quality of its TVs. It is splitting off its money-losing TV division to run it as a wholly owned subsidiary.
Sony forecast a 50 billion yen loss for the year ending next March.