Sony Corp. will shut down all 14 Sony Store outlets in Canada within about two months, a company official said on Monday, as the struggling electronics giant tries to turn itself around.
It has already reduced the number of stores in the United States by about two-thirds, closing 20 last year. Sony Stores sell products such as LCD televisions and digital cameras.
The company has said it will pay no dividend for the current business year through March, for the first time since it went public in 1958, as it now anticipates a bigger-than-expected net loss of ¥230 billion due to fierce competition in the smartphone market.