Sony to sell off VAIO brand, expects $1bn loss

Sony President and CEO Kazuo Hirai bows after a press briefing to announce the company's financial results in Tokyo on February 6, 2014. Sony on February 6 warned it would book a whopping USD 1.08 billion annual loss as it cuts 5,000 jobs and exits the stagnant PC market this year, with the once-mighty electronics giant struggling to reinvent itself in the digital age.

The once-mighty electronics giant Sony said today it's no longer expecting to make a profit this year. Instead the forecast is for a loss of more than $1 billion. And Sony said today it will sell off VAIO, it's personal computer-laptop business. The BBC's Rupert Wingfield Hayes joined us from Tokyo to help explain.

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David Brancaccio is the host of Marketplace Morning Report. Follow David on Twitter @DavidBrancaccio

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