Sony slashes profit forecast by more than two-thirds

Sony Playstation PS4 console
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Sony Playstation PS4 console

Sony slashed its operating profit estimate by nearly 70 percent for the financial year ended March 31, saying it saw an additional 30 billion yen ($293.7 million) in costs from exiting the PC business.

The Japanese consumer electronics giant on Thursday cut its operating profit forecast to 26 billion yen from a previous estimate of 80 billion yen, adding that it would book 25 billion yen in impairment losses from its overseas disc production unit for fiscal 2013.

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Sony also cut its net loss forecast to 130 billion yen from a previous forecast of 110 billion yen.