Sony CEO Kaz Hirai

As Japanese tech giant Sony restructures its businesses, there are signs of more growing pains to come. The company revealed that it expects losses of ¥50 billion ($489 million) in the financial year ending March 2015, whereas analysts had predicted a net profit of ¥59 billion. The previous year saw the company lose ¥128.37 billion ($20.62 billion), and Sony's financial woes continue despite strengthening sales of its Xperia smartphones.

Figures spotted by Engadget in Sony's end-of-year report indicate that sales of Sony's smartphones rose by around 20 percent to just under 40 million units, as Sony fortified its high-end presence with phones like the Xperia Z, Z1 and Z1 Compact and launched more mid-range products. It appears PlayStation 4 launch also made a strong contribution to Sony's bottom line, with gaming sales up 53 percent.

Source: Engadget, The Wall Street Journal