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Sony on Wednesday said it would lose $2.14 billion this fiscal year JJ Redick 76ers Jersey , more than four-times its earlier forecast as the Japanese electronics giant blamed a downturn in its mobile phone business.
The estimated net loss of 230 billion yen in the fiscal year to March 2015 came as a surprise only months after it tipped a loss of just 50 billion yen, citing a turnaround in its hard-hit television business.
Sony has cut expectations for sales in the smartphone business, which has been reporting operating losses as it faces off against global rivals including Apple (NasdaqGS: AAPL - news) and South Korea's Samsung.
The announcement, which came after Japanese markets had closed, is likely to resurrect fears that the once world-leading electronics company has a lot more work ahead to cast off years of losses.
It also said it would not pay a year-end dividend for the first time since it started trading in Tokyo in 1958 Allen Iverson 76ers Jersey , according to the leading Nikkei business daily.
On Wednesday, the company said it had "modified" its mid-range business plan (MRP) to "address the significant change in the market and competitive environment of the mobile business".
"Under the new MRP, the overarching strategy for the (mobile) segment has been revised to reduce risk and volatility, and to deliver more stable profits," it said in a statement.
"This revision includes changing the strategy of the (mobile) segment in certain geographical areas Joel Embiid 76ers Jersey , concentrating on its premium lineup, and reducing the number of models in its mid-range line-up."
Sony boss Kazuo Hirai is expected to hold a news conference around 5:00 pm local time (0800 GMT).
The new estimate will see Sony post a 40 billion yen operating loss -- reversing earlier expectations for a 140 billion yen profit -- on previously forecast sales of 7.8 trillion yen.
In May the firm posted a bigger-than-expected loss of 128.37 billion yen in the fiscal year to March. That came several months after announcing 5,000 job cuts at its struggling computer and television units.
Sony has seen its credit rating slashed to junk as it undergoes a painful restructuring, including exiting the personal computer business and liquidating assets that saw the $1.0 billion sale of its Manhattan headquarters.
The firm is also selling properties at a prestigious Tokyo site where its headquarters had been for six decades.
Hirai has repeatedly shrugged off pleas to abandon the still ailing television unit, which he insists remains central to Sony's core business.
Japanese manufacturers have suffered badly in their TV divisions as razor-thin margins and fierce overseas competition weigh on profits.
However Ben Simmons Authentic Jersey , Sony has fared the worst, with its earnings trailing struggling domestic rivals Panasonic and Sharp, both of which have reported profits following record losses as they overhaul their vast businesses.
WASHINGTON, Feb. 23 (Xinhua) -- U.S. companies like Apple and Google should give the government built-in access to the encrypted data of their customers via "front doors" intentionally implanted in digital products, a senior security official said Monday.
Michael Rogers Wilson Chandler Authentic Jersey , director of the National Security Agency (NSA), told a Washington cybersecurity forum that he shared concerns with FBI chief James Comey about last year's announcements from Apple and Google to offer new encryption tools on the operating systems of their smartphones, which cannot be broken even by the companies themselves as long as users store data on their own devices and not in the cloud.
Rogers declined to comment on reports last week that the NSA had implanted spyware on computer hard drives for surveillance purposes and that it, along with Britain's Government Communications Headquarters, hacked into a major SIM card manufacturer's systems to steal encryption keys.
According to Kaspersky Lab JJ Redick Authentic Jersey , a Moscow-based security software maker, the NSA has made a breakthrough in spying technique by embedding surveillance software in hard drives made by top manufactures.
The latest findings could further hurt Washington's credibility in terms of guarding cybersecurity, already affected by leaks by fugitive U.S. whistleblower Edward Snowden.
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U.S. makes breakthrough in spying technique: Russian experts
MEXICO, Feb. 16 (Xinhua) -- The U.S. National Security Agency (NSA), the notorious eavesdropper Allen Iverson Authentic Jersey , has made a breakthrough in spying technique by embedding surveillance software in hard drives made by top manufactures, according to Kaspersky Lab, the Moscow-based security software maker.
In a presentation unveiling a series of spying programs at a conference in Mexico on Monday, Kaspersky linked the techniques to Stuxnet, the NSA-led computer worm that disabled about 1 Joel Embiid Authentic Jersey ,000 centrifuges in Iran's uranium enrichment program. Full story
Backgrounder: The peeping eyes of the United States
BEIJING, Feb. 10 (Xinhua) -- The United States, the birthplace of the Internet, has now also turned into the most aggressive country in cyber surveillance, espionage and hacking Ben Simmons Jersey , despite its repeated complaints about cyber attacks against U.S. facilities.
While labeling itself as the biggest victim in the "cyber-warfare," the United States is demonstrably the origin of the world's most cyber attacks. According to the estimates of Symantec, a leading cyber security company, 25 percent of the Internet attacks were launched inside the U.S. territory.
ROME, March 20 (Xinhua) -- Italian Minister of Infrastructure Maurizio Lupi said he would resign from his post after multiple allegations of corruption and kickbacks connected to large-scale public works projects Wilson Chandler Jersey , in what is being cast as the first major scandal of the 13-month-old government of Prime Minister Matteo Renzi.
Lupi's decision came after Italian police arrested four people and announced dozens more were under invest. NHL Jerseys Wholesale Cheap Jerseys Authentic NBA Jerseys Wholesale Soccer Jerseys From China MLB Jerseys Online Replica Soccer Jerseys From China Nike NFL Jerseys Cheap Adidas NHL Jerseys China Authentic NFL Jerseys From China Replica MLB Jerseys Wholesale |
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