Sony will report the past fiscal year expected to close with another loss of $1,2 billion, after previously predicting a profit of nearly $500 million.
The drastic turnaround was due to the weak Vaio PC division, which was ultimately sold off completely, as well as further restructuring measures throughout the company. In addition, there were several waves of layoffs across the development studios, including Guerrilla Games Cambridge, Sony London, and Sony Santa Monica Studio.
On a positive note, internal operating costs were reduced from 80 billion yen to 26 billion yen. The full annual report will follow in approximately two weeks.
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