Japanese
consumer electronics giant Sony has said it expects to record much bigger
losses because of its struggling mobile business.
For
the full year to March 2015, Sony now expects a full year loss of 230bn yen
($2.15bn; £1.3bn) compared with a previous estimate of 50bn yen.
The
firm has cut forecasts for sales in its smartphone business as it faces
competition from Apple and Samsung.
Sony
has been reorganising its business in recent years.
The
company said
in a statement its latest plan had been "modified to address
the significant change in the market and competitive environment of the mobile
business."
Under
chief executive Kazuo Hirai - who took charge in 2012 - Sony has sold off parts
of the business deemed not central to the company's operations, in an attempt
to return to profitability. That included the sale of its US headquarters
building in New York, for more than $1bn, and the "Sony City Osaki"
premises in Tokyo.
And
in its search for new revenues, earlier this month the company unveiled a new
range of smartwatches and launched a smartphone that will allow gamers to
integrate the device with its PS4 playstation console.
BBC
Business
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