From CNET: Sony announced the sale of its battery business on Monday and at the same time reduced its profit estimate for 2016.
The Japanese tech titan had hoped sales of the PS4 and the release of PlayStation VR, its virtual reality headset, would result in a healthy financial year for the company.
The sale of the battery business was also supposed to contribute to this. The business was sold to Murata Manufacturing, a components company also based in Japan for around $166 million. The sale is part of a Sony's broader long-term plan, which is to restructure the company around video games, entertainment and the camera sensors that feature in the many of the market's best-selling phones.
Sony still expects to be able to announce a profit of $2.6 billion when the end of its financial year comes around in March, but that is around $300 million than it had estimated back in July.
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