Sony heads for deeper loss as it shrinks struggling smartphone business

TOKYO: Sony Corp cut its earnings outlook for the sixth time on chief executive Kazuo Hirai's watch on Tuesday as it announced a massive impairment change on its smartphone unit, which it has failed to grow despite a rapidly expanding market. 

Hirai said mobile would remain one of the three core divisions of its electronics business, even though its shrinking footprint and ballooning losses now threaten the prospects of that flagship business scoring a profit this year.