Sony shares shed more than 7 per cent to hit a near 32-year low today, a day after the electronics firm posted a record annual loss of $5.7 billion.

The company has failed to convince investors that it has a sound strategy to turn around its loss-making TV business and boost smartphone sales.

The Walkman and PlayStation maker has lost its innovative edge, falling behind Apple and Samsung, and guidance for the current financial year has failed to impress.

"I didn't see anything positive in there," a trader at a US bank said. "There is really nothing in there that can justify buying the stock. You see the loss narrowing in the TV business. That's fine, but I don't see any future in the TV business, so it doesn't matter what they do."

He said Sony's forecast of 33 million smartphone shipments this business year looked optimistic because its supplier Qualcomm faced capacity constraints and Qualcomm's main priority was to supply Apple, which means Sony may not secure enough chips to meet its target.

Sony shares were at their lowest since September 1980, the company said citing Nikkei Quick data.

Reuters