Sony sees profit in the third dimension | Shanghai Daily

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November 20, 2009

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Sony sees profit in the third dimension

SONY aims to be profitable in gaming and flat-panel TVs by the fiscal year ending March 2011, pushing 3D technology as a way to showcase its strength in entertainment and surface from deep losses, it said yesterday.

"Our work is already bearing fruit," Chief Executive Howard Stringer said in outlining Sony's turn-around strategy at the electronics giant's Tokyo headquarters.

The maker of the PlayStation 3 game console is headed for its second straight billion dollar loss in the current fiscal year ending March 2010, battered by the global slowdown and falling price of gadgets.

Sony Corp has been uniting its sprawling businesses, bringing together purchasing for parts and other supplies.

Stringer, who first promised a more nimble and streamlined Sony when he took the helm in 2005, said things would be different this time. "This is a new Sony. The new team here is as digitally connected as our devices," he said.

Stringer said the latest restructuring was progressing ahead of schedule, resulting in a 500 billion yen (US$5.6 billion) reduction in procurement costs, a 20 percent improvement from the previous fiscal year.

Job cuts were also ahead of schedule, with head count reduced by 19,500 -- or 12 percent -- in the last year to 146,800 in September, Stringer said.

Sony says it will aim for a 20 percent share of the global liquid crystal display TV market by fiscal 2012.

New products in the works include 3D TVs, targeting sales of more than 1 trillion yen in 3D related products by the fiscal year through March 2013. PlayStation 3 game home consoles will all be upgraded to 3D, according to Sony.

"We see 3D as a pillar of our strategy," said Hiroshi Yoshioka, a senior Sony executive, stressing that the whole company was rallying around 3D.

"We are all getting geared up on this theme," he said.




 

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