Sony warns on profits after film flop

Sony Pictures' flopbuster film White House Down helped to push the Japanese entertainment and electronics giant to even bigger losses in the latest quarter and chop its full-year profit forecast by 40 per cent.

White House Down, an action movie released in June, failed at the box office. The picture division swung from a profit of ¥7.9bn (£50m) to a loss of ¥17.8bn. That helped to push the total loss for the quarter up from ¥15.5bn to ¥19.3bn. Sony slashed its profits forecast for the year from ¥50bn to ¥30bn.