Sony sees record $6.4 billion net loss

(Reuters) - Sony Corp flagged a record $6.4 billion annual net loss, double its earlier forecast and a fourth straight year of red ink, inflated by writing off deferred tax credits mainly in the United States.

In a bid to ease investor concerns over its deteriorating bottom line, the Japanese consumer electronics giant said it would bounce back in the current year to end-March 2013 and make an operating profit of 180 billion yen ($2.2 billion).

Sony, which plans to axe 10,000 jobs - around 6 percent of its global workforce - according to media reports this week, has been hammered by weak demand for its televisions and been overtaken by more innovative gadget rivals such as Apple Inc and Samsung Electronics.

In a further sign of how Japan Inc is hurting, particularly the electronics industry, consumer electronics and LCD maker Sharp Corp on Tuesday increased its full-year net loss forecast to 380 billion yen ($4.67 billion) from 290 billion yen. Read More