Sony expects to lose more than $2 billion

[unhappycamper]

http://money.cnn.com/2014/09/17/investing/sony-loss/

Sony expects to lose more than $2 billion
By Sophia Yan @sophia_yan September 17, 2014: 5:13 AM ET

Things are going from bad to worse for Sony -- the Japanese company expects to lose billions of dollars this year as its smartphone business bleeds.

Sony said it estimates a staggering net loss of 230 billion yen ($2.1 billion) for its fiscal year ending next March. That's nearly five times the 50 billion yen loss the company previously forecast.

For the year, Sony (SNE) expects to post an operating loss of 40 billion yen, a plunge from the 140 billion yen in operating profit it estimated back in July.

The hit is entirely due to major losses in Sony's mobile communications segment, which is facing fierce competition in the mid-range market for smartphones.

[exboyfil]

1. Maybe the need for cash

will prompt to make a deal with Marvel/Disney for the rights to Spider Man