Sony issues profit warning

Projections lowered as smartphone business disappoints.

Sony have once again been forced to revise its forecast and this time it's not a case of a slight adjustment. Due to the poor performance of their smartphones, the company reduced the expectations by 180 billion Yen ($1.7 billion). Instead of a profit of 130 billion Yen ($1.2 billion) at the end of March 2015, Sony are now projecting a net loss of 50 billion Yen ($466 million). After getting rid of their PC division Sony obviously got another problematic division - and the TV unit is still causing concern. At least the PlayStation business is doing fine.