Sony ‘will be unprofitable until 2015′

<p>Sony has confirmed it is moving out of the PC market.</p>

The share price of Japanese electronics company Sony rose yesterday (May 13th) despite the firm revealing it is likely to remain unprofitable until 2015.

Sony has officially left the PC market and the firm said this means it is going to be unable to turn a profit for the next two years.

Chief financial officer Kenichiro Yoshida explained a further restructuring of the company will take place in the next 12 months.

"We'll make this a year of biting the bullet on restructuring," he was quoted as saying by Reuters. "In previous years the restructuring was mostly within business units and in manufacturing. This time the difference is that we are quitting businesses entirely."

A 50 billion yen (£291 million) net loss is now being predicted by Sony for the 2014/15 financial year. This would be the company's sixth loss in the last seven years.

Sony's share price rose by more than one per cent on the New York Stock Exchange yesterday.

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