Today, Sony lowered its full year profit forecast. It is expected that the net loss in fiscal year 2014 will be 230 billion yen, about 13.1 billion yuan. Previously, Sony had expected a net loss of 50 billion yen. Affected by this, Sony announced to cancel the year-end dividend, which is the first time since Sony went public.

Sony said that because it overestimated the revenue of mid tier smartphones, it made strategic adjustments and was willing to accept losses, and reduced the annual smartphone sales from the expected 50 million to 43 million.

Influenced by this news, Sony fell 13% at the opening, the biggest drop in three years, and closed down 8.64% in total.