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Sony forecasts further losses despite strong PS4 and smartphone sales

14
May
2014

Sony is back to losing ways after recording a ¥128.4 billion ($1.25 billion) net loss in its 2013 fiscal year. Twelve months ago Sony reported a ¥43 billion net profit for 2012, its first in five years, but after these 2013 results Sony is now forecasting a second consecutive loss for the current financial year: it expects to lose ¥50 billion ($489 million) by the end of next March. PS4 and smartphones boost Sonys revenues Sales were up 14.3 percent year-on-year, which Sony puts down to the weakening of the yen, a \significant\ increase in smartphone sales, and the launch of the PlayStation 4.

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