According to the new Chief Executive Officer of Sony, Kazuo Hirai, the company is planning to shut down some of the under-performing businesses in order to overturn the loss making company.

The Japanese electronics giant is expected to suffer a larger than expected loss of about $2.9 billion and this will make it difficult for the new CEO to turn around the company. Sony posted a $2.1 billion net loss for October-December as it continued to suffer against rivals including US-based Apple and South Korean firm, Samsung.

The estimated loss of $2.9 billion for the year to March will be the forth-consecutive year for losses and presents a difficult task ahead of Hiram, who replaces Howard Stringer as CEO in April.

Hiram's strategies involve closing down less-competitive businesses and review its portfolio. The loss this year is blamed on stronger yen, cuts in production due to floods in Thailand and cost of exiting a display-panel venture with Samsung.

Hirai said that the company could reward its customers for narrowing its portfolio. The shares of the company rose 10 months in Tokyo after reports suggested that Hirai is aiming to close down unproductive and loss making units of the company.