Japanese electronics firm Sony has cut its profit expectations by 40% for the year to March 31st 2014, as its movie and TV production unit saw a 17.8 billion yen loss during the period, compared to an operating profit of 7.9 billion a year earlier.

"The current quarter reflects the theatrical underperformance of White House Down, while the previous fiscal year included the strong theatrical performance of the Amazing Spider-Man," the firm said.