Sony downgrades forecasts as it dumps PC business

While the PlayStation 4 is exceeding sales expectations for Sony, the company's large-scale restructuring to its PC business isn't working out so well, as Sony downgraded its full-year fiscal forecast today. In February, Sony said it would sell off its PC business and lay off around 5000 employees, and suggested that, as a result, its full-year losses would total 110 billion yen ($1.1 billion). This was down from the 30 billion yen ($295.6 million) the company had previously forecast. Now Sony says that the situation is worse than previous thought, with additional expenses of 30 billion yen ($295.6 million) related to exiting the PC business. As such, the company now forecasts losses of 130 billion yen ($1.3 billion). PC sales in February underperformed, said the company. "Sony has determined that it does not expect to generate sufficient cash flow in the future to recover the carrying amount of long-lived assets, resulting in an expected impairment charge," added the company.