Sony slashes its full-year net profit forecast for fiscal 2013 by -40% to around $300 million (30 billion year) despite growing smartphone sales and a weak yen, taking hits from ailing CE sales and under-performing movies.
As a result Sony is back in the red, with Q2 2013 net losses worth $197 million from operating profits reaching $151 million. The company blames such losses on weak box office returns suffered by White House Down, as well as the lack of a strong blockbuster such as 2012's The Amazing Spider-Man.
The former giant also sees losses in CE-- despite growing TV sales (by 18.7% Y-o-Y) and cost reduction measures the Sony Home Entertainment & Sound division still faces losses reaching $123m following restructuring charges and TV cost reductions.