Sony lowers forecast to loss, trying to sell Vaio

[unhappycamper]

http://www.adn.com/2014/02/05/3309422/sony-returns-to-profit-trying.html

Sony lowers forecast to loss, trying to sell Vaio
By YURI KAGEYAMA
AP Business Writer
February 5, 2014 Updated 6 minutes ago

TOKYO — Sony is in talks to sell its troubled personal computer business and Thursday lowered its earnings forecast for the business year ending March to a 110 billion yen loss ($1.1 million).

The company also said it's cutting its global workforce by about 3 percent or 5,000 people by the end of March 2015 as it restructures its PC, television and other businesses. Some 3,500 of the job losses will be overseas and 1,500 in Japan. That comes on top of the 10,000 jobs cuts Sony announced over the previous year.

The Japanese electronics and entertainment maker, battered by stiff competition from Samsung Electronics Co. of South Korea and Apple Inc., the U.S. maker of the hit iPod and iPad, acknowledged it won't be able to stop losing money in its Vaio PC or Bravia TV operations as it had repeatedly promised.

Tokyo-based Sony Corp. said it will split off its money-losing TV division and run it as a wholly-owned subsidiary.