Japanese electronic giant Sony has slashed its full-year profit forecast by 40% as it continues to struggle.

It now expects to make a net profit of 30bn yen ($305; £190m) in the financial year to 31 March 2014, down from its earlier projection of 50 bn yen.

The cut came as Sony said its loss in the July-to-September quarter widened 25% from a year ago to 19.3bn yen.

One of the big drags on its earnings was its Pictures division which made a loss due to some high profile flops.

The division, which also includes production of movies as well as TV shows, recorded an operating loss of 17.8bn yen during the period, compared to an operating profit of 7.9bn a year earlier.

"The current quarter reflects the theatrical underperformance of White House Down, while the previous fiscal year included the strong theatrical performance of the Amazing Spider-Man," the firm said in a statement.

There was also a decline in television licensing revenue due to fewer movies being licensed year-on-year.

TV troubles

Sony, like many other Japanese electronics firms, has also been hurt by increased competition and slowing global demand for TVs.

A decline in TV prices has further hurt the profitability of the sector.

Sony's TV division posted an operating loss of 9.3bn yen for the three three months to the end of September.

At the same time, its gaming division which makes the PlayStation consoles also reported an operating loss during the period.

The firm said that the division's earnings were hurt after it cut the price of its PlayStation Vita consoles.

Sony cut the prices of the original PS Vita earlier this year in a bid to boost sales, which have been affected by an increasing number of users playing games on their smartphones and tablet PCs.

Sony's Game division made an operating loss of 800m yen during the period, compared to an operating profit of 2.3bn yen during the same quarter a last year.

http://www.bbc.co.uk/news/business-24753856

Koreans are the next Japanese when it comes to electronics. Samsung and LG kicked Sony's arse out of the TV market. Now with Samsung taking the crown in smart phone market, you got to wonder where Sony is going find its breathing room.

In fact, I feel disappointed about Sony PC sales. I really like Sony Vaio series laptop.

Sony is first and formost and insuace company.  That part of the company is doing just fine.

Although I remember that day TV shopping for my folks, after looking at TV's that the Samsung was better in picture and price than the Sony.   It shocking like the day Sears was bough out.

I like Playstation but couldn't find a reason to buy a Sony TV

I just bought a new Samsung. And I did look at the Sony TV's. But what Sony was offering, Samsung was also offering... but at a slightly lower price. And it's been that way for some time.

Why would I pay more $$$ for the very same thing I could get for less $$$.

Sony survivies primarily on its financial services. The electronic divisions are just a loss maker. They really don't care.

Yea samsung have great tv's, but LG is garbage, unreliable as hell.

Loeb must be celebrating right now this puts more pressure on Kaz regarding their Movie division.

The TV division killed them again.

They should discontinue the Vita, it is draining their gaming devision. Without it they would have made a profit in gaming division and that would have mean more games for PS3/PS4... Yeah the Vita is a mistake...

Nah they should just kill their entire TV division and spin off their movie division. That would make lots more money than discontinuing the Vita and will help the entire company.