Sony on Friday cut its sales forecast for the current fiscal year, citing the impact of a surging yen and slower smartphone sales, as net profits also took a hit.

Revenue in the year to March 2017 will be down 5.1 percent from its previous forecast to 7.4 trillion yen ($71 billion), the firm said, adding that net profits in its latest quarter dived 74 percent due to a one-time gain a year earlier and the impact of deadly quakes in Japan that temporarily shuttered regional factories.