Sony warns smartphone weakness will brake profit progress after Q1 surge

DON'T CELEBRATE YET: Japan's Sony Corp warned it doesn't now expect to make money on smartphones this year, citing weak demand, but said restructuring will help it turn a profit in its loss-making consumer electronics division for the first time in four years. — Reuters

TOKYO: Japan's Sony Corp warned it doesn't now expect to make money on smartphones this year, citing weak demand, but said restructuring will help it turn a profit in its loss-making consumer electronics division for the first time in four years. 

Reporting April-June operating profit doubled, boosted by its games and networks division and a one-off asset sale, Sony on Thursday cut its smartphone sales target this fiscal year by 14%.