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Sony forecasts another loss this fiscal year

Home console and software sales expected to rise, while portable sales decline

Sony has forecast a loss for the current business year ending in March 2015.

While the company said on Wednesday that it expects annual sales to rise 0.4 per cent, it also forecast a net loss of 50 billion yen (£290m/$490m) for the 12 month period.

That compares to a net loss of 128.4 billion yen (£746m/$1.25b) just announced for the business year ended in March 2014.

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While the wider company's performance is expected to disappoint, its games and networked services division is forecast to perform strongly. Annual sales are expected to rise 16.9 per cent to 1,220 billion yen (£7.1b/$11.9b), while it's anticipated that the division will swing from an operating loss of 18.8 billion yen to an operating income of 20 billion yen (£116m/$195m).

The company expects PS4, PS3 and PS2 sales to rise from 14.6 million units in the most recent financial year completed to 17 million in the current one.

Combined Vita, Vita TV and PSP unit sales are forecast to decline from 4.1 million units to 3.5 million.

Total software sales are expected to rise from 374 million units to 390 million.

Sony said last month that PS4 sales topped seven million units between the console's November 2013 launch and April 6.

Group CEO Kaz Hirai, who is set to reveal Sony's long-term strategy on May 22, hopes to return the company to growth by rebuilding its electronics arm around games, imaging technology and mobile devices.

Following the company's disappointing results, Hirai and other executives will take a pay cut by forgoing their annual bonuses.

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