Sony selling convertible bonds worth $1.9 billion to help fund Gaikai acquisition

Thursday, 15 November 2012 09:16 GMT By Nick Akerman

Sony is making a little extra cash by selling $1.9 billion worth of convertible bonds. Some of the figure will be used to finance the company’s purchase of Gaikai, while up to a third will be invested into Japanese optics group Olympus Corp.

Sony is also looking to repay debts and heighten its focus on CMOS image sensors. A net loss of $198 in Q1 2012 has forced a major rethink, as the gaming division continues to suffer a year-on-year decline in profit.

Sony has already lowered its yearly sales expectations from 16 million to 10 million for the PSP and PS Vita, with PS3 hardware sales also down from 4.9 million to 3.5 million in the last report.

Still, Black Ops: Declassified should help shift a few more handhelds, right? Oh.

Thanks, Joystiq.

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