Sony hit with yet another annual loss, warns of more to come

Sony’s move to abandon PCs has contributed to a massive net loss of ¥128.4 billion ($1.25 billion) for the year to March 31, and it has forecast a loss of ¥50 billion for the coming 12 months. A year earlier, Sony made a profit of around ¥41 billion, its first in many years. Its latest plunge into the red is slightly less deep than it forecast two weeks ago. The company reported revenue of ¥7.77 trillion for the period, up 14 percent on a year earlier.