Sony is forecasting its revenues for 2014 and it’s not looking all that good. Despite the popularity of its newly launched Xperia devices, the company is expecting losses of ¥50 billion ($489 million) this financial year which ends in March 2015.

Luckily for the company, the mobile division has been doing well compared to last year, which is possibly the only respite in these dark times. These figures come in stark contrast to analyst predictions which suggested that the company would register profits of ¥59 billion in this financial year.

The company reported losses of ¥128.37 billion ($20.62 billion) last year, so in a way Sony will be glad that it has reduced the losses to a great extent this year.

The surge in Sony’s gaming division, thanks largely to the PlayStation 4, will also affect the company’s finances positively. Smartphones like the Xperia Z1 and the Z1 Compact have made a crucial contribution to the earnings of the Japanese manufacturer. Bear in mind that these are mere projections and not exact figures, so we won’t know for sure if these estimates will be precise until next year.