Business / Companies

Sony eyes another year of loss in FY 2014

(Xinhua) Updated: 2014-05-14 19:30

TOKYO - Sony predicted on Wednesday a group net loss of 50 billion yen (about $489 million) for the current fiscal year through March 2015, the fifth annual loss in six years, local media reported.

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It also predicted a group operating profit of 140 billion yen in FY 2014, up 428.4 percent from the previous year, on sales of 7.8 trillion yen, up 0.4 percent.

In fiscal 2013 that ended in March, the Japanese technology and entertainment giant posted a group net loss of 128.37 billion yen. Its operating profit plunged 88.3 percent to 26.50 billion yen, on sales of 7.77 trillion yen, up 14.3 percent.

The disappointing earnings are mainly supported by weaker-than- expected personal computers and TV sales. In the last fiscal year, Sony's PC business posted an operating loss of 91.7 billion yen, and a loss of 80 billion yen is expected for the current fiscal year.

Its TV business remained in the red for the 10th straight year in FY 2013, posting an operating loss of 25.7 billion yen.

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