Sony cuts profit forecast after battery business sale

Lynsey Barber
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Sony's annual profit will be 10 per cent lower than expected (Source: Getty)
ony has cut its profit forecast for the year as a result of the sale of its battery business by 10 per cent.

Its outlook for the full-year ending March 2017 is now expected to be ¥270bn (£2.1bn) compared to the ¥300bn previously estimated after notching up a ¥33bn impairment charge for the sale of its battery business to Murata Manufacturing in a ¥17.5bn deal.

Read more: Sony cuts full-year operating income after impairment charge

The Japanese tech giant has pinned its hopes on a new Playstation and a virtual reality headset to boost sales this year, while the sale of the battery business is part of plans to turnaround the wider business.

It had already warned that it would incur a writedown when it first announced the deal in July.

Sony will announce earnings for the second quarter on Tuesday.

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