Sony Expecting Over $2 Billion in Losses This Year

September 18, 2014 Written by Mark Labbe

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Sony has just told investors to prepare for a huge $2.14 billion loss this year, which is over four times larger than the previously estimated $466 million loss.

This will be the first time ever that the company will not be paying an annual dividend to its investors announced Sony CEO Kaz Hirai, putting into perspective just how bad of a loss this is.

This is the first time we’ve not paid a dividend and we feel that responsibility as management very heavily

Most of the financial burdens are stemming from Sony’s smartphone division, which is struggling to say the least. However, Sony’s PlayStation division is doing very well, with the PS4 selling over 10 million units in less than a year.

Whether or not the financial loss will put an end to Sony’s smartphone department remains to be seen, but hopefully the loss will not have an impact on upcoming PlayStation games or support.

[Source: GameSpot]