Sony cuts full-year loss forecast to US$1.4b

Tokyo

SONY on Wednesday cut its full-year loss forecast by more than a quarter to US$1.4 billion, thanks to a weak yen and improving smartphone sales but it warned of further job cuts as part of its sweeping corporate overhaul.

The firm said it now expects to lose 170 billion yen (S$1.94 billion) in the fiscal year to March, down from an earlier estimate of 230 billion yen, as it also cited lower restructuring costs.