As Losses Mount, Sony Steps Up Restructuring With Pcs Pullout, Tv Spinoff

[Ron Burgundy]

By Sophie Knight and Reiji Murai TOKYO (Reuters) - Sony Corp stepped up efforts to turn around its unprofitable electronics operations, quitting the personal computers business and splitting its TV division into a separate unit as it warned it expects steep losses this year. Losses in the TV business have long dogged its efforts to compete with global consumer electronics giants like Apple Inc and Samsung Electronics Co. With restructuring costs rising at the same time as core mobile and home entertainment businesses fall short of its expectations, Sony said it now forecasts a net loss of 110 billion yen ($1.1 billion) in the fiscal year ending in March. The cost savings are to kick in by the 2015-2016 financial year, Sony said. Sony said the Vaio PC division, as widely expected, will be sold to investment fund Japan Industrial Partners, which will set up a separate company to take over the operations.

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