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Sony (SNE) is the latest iconic electronics maker to shock investors, today announcing it expects to post a loss of $1.1 billion for its fiscal year ending March 31. Sony Chief Executive Kazuo Hirai admitted he had failed to turn around the company’s money losing TV business, which could be spun off, following the sale of Sony’s money losing PC business.

Sony (SNE) is the latest iconic electronics maker to shock investors, today announcing it expects to post a loss of $1.1 billion for its fiscal year ending March 31. Sony Chief Executive Kazuo Hirai admitted he had failed to turn around the company’s money losing TV business, which could be spun off, following the sale of Sony’s money losing PC business.

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