TOKYO, Japan (CNN) -- Electronics manufacturer Sony announced Thursday that it will close out the year with an operating loss for the first time in 14 years.
Customers check Sony's Bravia brand LCD TVs at an electronics shop in Tokyo, Japan, Thursday.
Sony Corp. said it expects to report an operating loss of 260 billion yen (about $2.8 to $2.9 billion).
With the revised forecast, Sony joins the long list of major companies that are reporting losses because of the global economic downturn.
Sony attributes its loss to three factors: a surging yen, the impact from the decline in the Japanese stock market and an increase in expected restructuring charges.