February 6th, 2014, 22:00 PM
Sony to sell PC unit and cut jobs
Sony is to sell its personal computer (PC) unit and cut 5,000 jobs as part of a plan to reverse heavy losses.
The company will also split its TV division into a separate subsidiary as part of its restructuring programme.
The moves were announced as Sony forecast a net loss of 110bn yen ($1.08bn; £665m) for the financial year to 31 March, revising its earlier projection of a 30bn yen profit.
The TV and PC units have been a big drag on its earnings in recent years.
Last month, ratings agency Moody's cited concerns over the two divisions as a key reason behind its move to cut the Japanese firm's credit rating to junk status.
Moody's said at the time that it expected earnings from Sony's core businesses to continue to face "significant" downward pressure.