Despite Sony's exit from its costly PC business, the company continues to take expected losses. (Via Flickr / ladyous)
In February, Sony forecast an operating income of 80 billion yen, or more than $780 million — on Thursday the tech company revised that income to 26 billion yen. That's a $527 million revision. It also revised its net loss, adding 20 billion yen to the forecast.
Where's all the loss coming from? Sony says its disc manufacturing business isn't as profitable as it had once thought. Decreased demand, "mainly in the European region" meant profitability had to be revised. (Via Flickr / 40434084@N06)
And that costly PC business we mentioned is still costing the tech company. Sony says it expects additional costs to offload its PC business, totaling around 30 billion yen. (Via Sony)
Bloomberg lays out the fiscal timeline — the tech company has a history of overestimating its earnings. "That [loss] compares with a February loss projection of 110 billion yen ... a reduction from a revised October forecast for profit of 30 billion yen."
And an analyst who spoke with The Wall Street Journal says shareholders are going to find it hard to keep the faith. "The contrast is stark with Sony anticipating a bigger loss while other companies are starting to enjoy the fruits of their restructuring measures."
Despite a seemingly ever-increasing loss, a writer for The New York Times says the company continues to try and find ways to become profitable, going so far as to sell off its U.S. headquarters in New York and two buildings in Tokyo.
The Times says Sony will continue to look to its mobile phone, gaming, and camera technology as a means of becoming profitable once again. (Via Sony)