Sony announced today a downward revision in its forecasts for the current fiscal year. The company also shared lowered hardware estimates for the PS2 and PSP.

Sony Group as a whole expects 14% lowered sales compared to original expectations announced in October 2008, down to 7,000,000 million yen. The company expects a group operating loss of 260,000 million yen.

Looking just at its games division, Sony expects lower performance here due in part to an inability to meet original sales expectations and the rising yen. Both factors contributed 15,000 million yen, for a total of 30,000 million yen, in lowered sales expectations just for this division.

Those sales expectation drops appear to be due to PSP and PS2. While original expectations called for 16 million PSP systems, Sony now expects to sell 15 million units of the portable. For PS2, original estimates were dropped from 9 million to 8 million. Expectations for PS3 and software go unchanged from October's estimates of, respectively, 10 million and 250 million.

Sony also shared a few details on its plans to recover from performance problems. For its movie, music, and games business, the company plans on implementing cost reductions through staff cuts and lowered promotional spending.