Sony to close e-book store in Australia

Sony will close its e-book store in Australia and Europe, and transfer its tablet and smartphone users to the Kobo system.

Sony is to shutter its e-book Reader Store in Australia and Europe following a similar pullout in North America, the company says, as the once-mighty electronics giant pulls in its horns.

The move comes on the heels of the sale of its struggling PC business and as Sony looks to plug gaping holes in its balance sheet.

Users of the company's tablets and smartphones will be transferred by next month to the Kobo e-book system operated by Tokyo-based online mall Rakuten, the company said in a statement issued on Thursday.

Reader Store will shut down on June 16 in Australia and Europe, while it will continue operating in Japan, it said.

The Japanese electronics giant has already closed its Reader Store in North America in March.

The streamlining came only a few month after the struggling manufacturer, which is a small player in the global personal computer market, sold its Vaio-brand PC division to a Japanese investment fund.

Last week, Sony warned it would report a bigger-than-expected annual losses, blaming costs tied to its exit from the personal computer business, as the once-high-flying firm undergoes a painful restructuring.

The one-time byword for consumer electronics innovation warned it would book a Y130 billion ($A1.37 billion) net loss in the latest fiscal year to March, while it slashed its operating earnings outlook.


Share

2 min read

Published

Updated

Source: AAP


Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world