Sony Calls It Quits From Pc Business

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Sony has announced its plan to exit from the personal computer business amid indications that thousands of workers would become jobless.

The firm, which said it earned 11.17 billion yen ($110 million) in the nine-months to December but would lose 110 billion yen over the full fiscal year, announced it would sell the unit under the Vaio brand to a Japanese investment fund.

The company has blamed the poor outlook on a declining business and planned assets sales as well as some losses in its games, the reason for its decision.

Sony also said it would sell its struggling PC business to Japan Industrial Partners (JIP).
The company did not disclose financial details, but Japanese media have reported that the deal was worth between 40 billion yen and 50 billion yen.

It has also announced to cut cut 5,000 jobs from its workforce, saving more than $1.0 billion annually as the Japanese electronics giant undergoes a painful restructuring.

The job losses about 1,500 in Japan and 3,500 overseas were tied to an overhaul of its television unit and the sale of its personal computer business.

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