 "A woman walks past a logo of Sony Corp outside its showroom in Tokyo. Photo: Reuters")
Sony Corp will write down the value of its movie business by nearly 112.1 billion yen ($976 million) in the third quarter, blaming weaker film profits as online streaming services sap demand for movie DVDs.
In a statement on Monday, the Japanese TV-to-gaming group said it had cut its outlook for earnings from DVD, Blu-ray discs and other home entertainment in line with a market decline.
Sony, under Chief Executive Officer Kazuo Hirai, has been slashing costs to end years of losses across its sprawling business, writing down over-optimistic valuations. It said on Monday that the pictures segment overall - including television
