Sony says goodbye to battery business, cuts profit forecast

Sony announced the sale of its battery business on Monday and, at the same time, reduced its profit estimate for the fiscal year.

The Japanese tech titan is still looking at the PlayStation 4 game console and the PlayStation VR, its virtual reality headset, to contribute to a healthy financial year for the company.

The sale of the battery business is meant to contribute to this goal. The business was sold to Murata Manufacturing, a components company also based in Japan, for $166 million. The sale is part of a Sony's long-term plan to restructure the company around video games, entertainment and the camera sensors that feature in the many of the market's best-selling phones.

Sony said it still expects to post a profit of $2.6 billion when its financial year ends in March, but that is $300 million less than it estimated back in July.