Sony to close e-reading store in Europe, Australia

Sony e-book readers and its smartphones will now be controlled by Kobo as Sony closes its e-book stores around the world. Image: ubergizmo

The closures comes on the heels of the sale of its struggling PC business 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 this week.

Reader Store will shut down on 16 June in Europe and Australia, while it will continue operating in Japan. The company closed its Reader Store in North America in March.

The streamlining came only a few month after the struggling manufacturer, which is a small part of 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 loss, blaming costs tied to its exit from the personal computer business, as the once-high-flying firm undergoes a painful restructuring.

Sony warned it would record a ¥130bn net loss in the latest fiscal year to March and has slashed its operating earnings forecast for the coming year.

Source: AFP via I-Net Bridge