Sony to sell PC unit and cut jobs

Sony has said it will sell its personal computer (PC) unit and split its TV division into a separate subsidiary as part of its restructuring program, the BBC reports.

It will also cut 5,000 jobs globally in an attempt to turn around its fortunes.

The moves were announced as Sony forecast a net loss of 110bn yen ($1.08bn; £665m) for the financial year to 31 March, revising its earlier projection of a 30bn yen profit.

The TV and PC units have been a big drag on its earnings in recent years.

Last month, ratings agency Moody's cited concerns over the two divisions as a key reason behind its move to cut the Japanese firm's credit rating to junk status.

Moody's said at the time that it expected earnings from Sony's core businesses to continue to face "significant" downward pressure.

The annual loss forecast came despite Sony reporting a net profit of 27bn yen for the October-to-December quarter, up from a net loss of 10.8bn yen during the same period a year ago.