I don’t know about you, but I always had a thing with Sony products. I guess it has to do with the fact that I’ve been playing on the Play Station since I was 10, but one thing is for sure – this is a company that puts a lot of attention into its product. I think the same can be told about its smartphones and tablets, which are some really well-built devices. But Sony is just such a huge company that it seems it’s pretty hard to keep it profitable.

sony exit tv smartphones

The iconic Japanese company has a lot of business units as its interests span across audio, video, computing, photography, semiconductor and components and even medical-related fields. However, it seems that in these challenging times, a big reorganization is ongoing, one which is going to change a lot of things about Sony’s products and services.

The company is now aiming to boost operating profit 25-fold within three years. It hopes to do so by growing its camera sensors and PlayStation units. CEO Kazuo Hirai seems to be behind this strategy, and there are chances that it could exit the highly competitive TV and smartphone sectors.

Sony is forecasting for this financial year its sixth net loss in seven years, so it is now shifting its focus on more profitable businesses such as camera sensors, videogames and entertainment. The company’s CEO said the following:

The strategy starting from the next business year will be about generating profit and investing for growth

Sony’s restructuring has started when the company has decided to sell off its personal computer division and spin off the TV business. Of course, it had to cut some jobs, too. Sony’s CEO said they are looking to expand they PlayStation network user base and focus on areas such as streaming music. More resources could be allocated to Sony Pictures Entertainment, the American entertainment subsidiary of the multinational.

PHOTO CREDITS: Wired
Source: WSJ
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