Sony cuts profit estimate on camera impairment

• Sony (NYSE:SNE) cut its profit estimate by 9.4% for the financial year that ended in March, as slowing global smartphone sales dented demand for its camera modules.
• As a result, the company booked an impairment loss of ¥59.6B on its camera business to match a weaker revenue prospect.
• Full year operating income is now seen at ¥290B ($2.6B), down from a previously estimated ¥320B.