Although Sony already cut its forecast for smartphone sales in July, they have had to readjust their predictions for the financial year and the outlook is bleak. Sony is now expecting quadruple the losses and it's due to poor sales of their Xperia smartphones.

Sony now expects a 180 billion yen ($1.7 billion) "impairment" after an internal review of its mobile division. Sony shared that they have changed their focus from "achieving significant sales growth" to reducing risk, volatility and "more stable profits." Apparently the mid-range devices were the worst offenders so Sony is likely to return their focus to premium devices.

Source: Sony