Sony raises loss forecast to 2014

Tokyo-the Japanese technological giant Sony announced on Wednesday that foresees record loss of 230 billion yen ($ 2.14 billion) during the current year, almost five times its initial estimate.
The reason for the downward revision is the deterioration of its assets included within your business plan for the cell phone area during the July-September period, the second quarter of the Japanese fiscal year, the company said in a statement.
In particular, the new estimate considers that the economic value of your business is significantly lower due to "significant changes in market and competitive business environment of mobile phones," explained Sony.
Confirmed the prediction, this would be the second consecutive year of losses for Sony after its net deficit of 128.4 billion yen ($ 1.19 billion) in 2013.
The Japanese company, which is immersed in the process of restructuring, fell into red numbers every year since 2007 with the exception of 2012.