Sony warns of full-year loss

MCV Staff 23rd May 2011 Publishing

PlayStation platform holder Sony has warned investor’s that this week’s full year financial report will fall dramatically short of previous expectations.

AP reports that Sony now expects a YEN 260bn ($3.2bn) loss for the fiscal year ending March 31st. Previously it had forecast a YEN 70bn ($860m) profit for the period.

The earthquake and tsunami that hit Japan earlier this year has been named as the main reason for the change. The collapse of PSN didn’t occur until April.

The firm also stated that the total cost associated with the PSN outage and subsequent actions has hit around YEN 14bn – around 100m.

Last year Sony reported a $439m loss. The year before losses passed $1bn.

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