Thai floods disrupt camera production
Sony slashed its full-year operating profit outlook by 90 percent as Thai floods disrupted camera production.
The floods were another nail in the coffin for the company which is struggling with a high yen and sluggish television sales in the U.S. and Europe. That is even before the embarrissing hack of its Playstation network earlier this year.
Sony reduced its forecast for TV sales by almost a tenth to 20 million sets. It is the outfit's eighth straight annual loss in its TV division and the company is revamping the unit.
The revised forecast of 20 billion yen ($255 million) for the year ending in March compares with its previous estimate of 200 billion $2.5 billion in profit and market expectations of a 166 billion yen profit.