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via MediaFile

Tech wrap: Sony suffers as TV picture dims

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Sony warned of a fourth straight year of losses, with its television unit alone set to lose $2.2 billion on tumbling demand and a surging yen, sinking its U.S. shares and raising concerns about the viability of its high-profile TV business. Investors had expected Sony to reduce its profit forecast, but not flag a swing to massive losses.

The maker of Bravia TVs, Vaio computers and PlayStation game consoles cut its sales forecast for TVs, cameras and DVD players and said it may report a 90 billion yen ($1.1 billion) net loss for the current financial year, scrapping its earlier net profit estimate of 60 billion yen.Sony’s U.S. listed shares closed down nearly 6 percent.

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