Sony Warns Of Dire Annual Loss

Sony has issued its fourth profit warning in the last ten months. It blames a one-off charge to its mobile phone division for a fourfold increase over the last warning.



On Wednesday Japan's third largest electronics company Sony stunned markets when it warned that losses this year would be four times its last forecast. Sony said it expected to post an annual loss of 2.14 billion dollars, blaming a huge charge connected to its mobile phone business.



The news comes despite continuing good sales and growth in its flagship Xperia smartphone line. But that has apparently not been enough to pull Sony up from its 2013 results, when it posted a fiscal year loss of 1.26 billion dollars.



bew/uhe (AFP)