By Marcus Leach

Electronics giant Sony have reported a loss of $3.1 billion (£1.9 billion) for the year ending March 2011.

The loss was not entirely unexpected as the Japanese company wrote off $4.4 billion to a tax credit booked for the previous year.

Another factor attributed to the loss was the strengthening yen. This is now the third year in a row that Sony have reported losses, but the firm forecast a return to profit in the current fiscal year.