Japanese entertainment giant Sony more than doubled its full-year net loss forecast to $2.9 billion, a day after announcing that its president and CEO Howard Stringer would step aside.
The firm on Thursday said it was expecting a net loss of 220 billion yen ($2.9 billion) for the year to March, up from 90 billion yen previously, in what will be its fourth consecutive year of losses.
Last year the Tokyo-based maker of PlayStation consoles and Bravia televisions lost 259.6 billion yen.
Sony also announced a net loss of 201.45 billion yen for the nine months to December, having made a profit of 129.22 billion yen in the corresponding period in 2010. (AFP)
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