The company's forecast for a net loss in the year to March was an about-turn from a prediction of a ¥30bn profit made in October last year.
Hirai expanded his reorganisation after failing to meet a pledge to end television losses this year and spur a revival, having announced at least 10 000 job cuts previously and plans to focus on mobile devices, games and imaging products. Sales of
"The reform announced today comes far too late," said
The company would sell its PC business, which makes notebooks under the Vaio brand, to buyout firm
The full-year operating income would be ¥80bn, less than half its October forecast of ¥170bn, while the sales projection was unchanged at ¥7.7 trillion,
Hirai said: "My responsibility is to turn around the electronics operation. I'd like to say this time's reform is final but amid intensifying competition, reform may be needed going forward."
German-traded shares of
It cited the costs of restructuring its television and PC units for the earnings revision.
The television business has lost ground in a contracting market to put it further behind competitors Samsung and LG.
"Hirai lacks aggressiveness," said
A bright spot for
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