Sony Cuts TV, PC Business
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Japan's Sony Corp. announced on Thursday that it was selling its PC division and spinning of its TV division in a massive restructuring of the technology giant.
Sony's Vaio PC line/via Twitter @newsbreakers
Sony's Vaio PC lines will be reportedly sold to a Japanese investment firm, with the deal expected to be finalized in March, and its TV division, known for the popular Bravia line, will be spun off into a wholly-owned subsidiary company.
Thursday's announcement came shortly after the company announced it had a $1.1 billion loss forecast for the fiscal year. Sony also announced that it would be cutting 5,000 jobs.
Read more about Sony's restructuring at Time and New York Times.
Reach Executive Producer Colin Hale here. Follow him on Twitter.
