Sony on Thursday unveiled major restructuring measures to turn its fortunes around, including exiting its PC business and spinning off its TV operations, but warned that it expects to post a full-year loss as a result of the overhaul.
The Japanese tech giant confirmed that it will sell its struggling PC unit to investment firm Japan Industrial Partners. Financial terms of the deal were not disclosed but Sony said it will take a 5 percent stake in the new outfit.
Meanwhile, Sony's flagship TV manufacturing business – that has lost $7.5 billion over the last 10 years – will be spun off by July this year, it added.
(Read more: Sony shares soar on plan to dispose PC business)
The announcement came as Sony reported much better than expected corporate earnings. Net profit for the nine-months ending December 2013 came in at 11.17 billion yen ($110.3 million), much better than a Reuters forecast for a loss of 110 billion yen.