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Sony CEO Kaz Hirai: PS4 'likely' to exceed PS2 profits
While Sony as a whole is predicting losses to the tune of almost half a billion this fiscal year, company CEO Kazuo Hirai is looking to the future - specifically, the PlayStation 4's future. During a corporate strategy meeting reported by Japanese website Impress Watch and translated by Eurogamer, Hirai said he believes that "it is likely that PS4 will become the platform which exceeds the profits earned with PS2." The PlayStation 2 sold more than 155 million units in its 13-year lifespan, having finally been discontinued at the beginning of last year. The PS4, in its six months on the market, has sold more than 7 million units. While that trend would need to remain relatively stable to beat the PS2 in sheer numbers within the same span of time, bear in mind that a straight-up comparison of unit sales isn't looking at the whole picture. Hirai cited the growing popularity of digital distribution and services - things which didn't factor into the PS2's success - as the keys that will allow Sony increased profitability, even if they don't move as many units. [Image: Sony]
Report: Sony top brass to take pay cut
Sony CEO Kazuo Hirai and other company executives will decline their annual bonuses and accept up to a 50 percent pay cut following Sony's fourth annual loss within the last five years, the Wall Street Journal reports. Sony downgraded its financial forecast earlier this month, and expects to report a 30 billion yen loss (around $294 million) for the year ending March 31. The company announced in February that it plans to sell off its Vaio PC business and reform its television manufacturing division. Sony will disclose its full financial results for the recently concluded fiscal year on May 14. [Image: Sony]
Sony considers splitting the company after proposed IPO
Sony executives are considering splitting the company's entertainment and electronics divisions, following billionaire Daniel Loeb's proposed initial public offering of its entertainment business. The entertainment arm includes all PlayStation properties, alongside Sony's film and music businesses. Loeb, with Third Point LLC, owns a 6 percent stake in Sony worth $1.1 billion, and is Sony's biggest investor. Sony CEO Kazuo Hirai confirmed that the top brass is considering Loeb's offer, but didn't say when it would come to a decision, Bloomberg reports. "It's only a start," Hirai said. "It's important that the board will discuss this and come to a decision that represents Sony's stance." Following Loeb's offer yesterday, Sony stock surged 9 percent.
The Daily Roundup for 01.24.2013
You might say the day is never really done in consumer technology news. Your workday, however, hopefully draws to a close at some point. This is the Daily Roundup on Engadget, a quick peek back at the top headlines for the past 24 hours -- all handpicked by the editors here at the site. Click on through the break, and enjoy.
The Daily Roundup for 01.08.2013
You might say the day is never really done in consumer technology news. Your workday, however, hopefully draws to a close at some point. This is the Daily Roundup on Engadget, a quick peek back at the top headlines for the past 24 hours -- all handpicked by the editors here at the site. Click on through the break, and enjoy.
Kaz Hirai drops some titles at Sony, still president
One morning, Sony president and CEO Kaz Hirai woke up and said, "I probably have too many titles." Beyond being the president and CEO of Sony Corporation (the umbrella parent company of PlayStation, Bravia, and many other Sony brands), Hirai is also "representative director" and "chairman" – until today, that is. Hirai is relinquishing his responsibilities and titles for both his positions as representative director and chairman of Sony Corp.Hirai is dropping both titles and responsibility in today's move, only remaining on Sony's board in a "part-time capacity." He became president and CEO earlier this year, taking over former CEO Howard Stringer's spot in early February. Sony Computer Entertainment president Andrew House is taking over the vacated chairman position, effective this month, and former Sony Corp. head Howard Stringer is also exiting his board seat.In case the bizarre-looking hierarchy isn't clear enough, this means that Andrew House – the guy who runs the PlayStation brand – is the head of Sony Corp.'s board, followed by eight Japan-based Sony Corp. employees. One of those is his boss, Kaz Hirai. Yup.
Sony expects biggest loss ever, 10K laid off; games a pillar for future
Sony announced today it would cut 10,000 jobs, approximately 6 percent of its global workforce, as it projects a loss of $6.4 billion for the fiscal year that ended in March. It will be the fourth straight year of losses for the company, which really needs to turn around its money pit TV business over the next two years."Sony will change. I've fully dedicated myself to changing Sony," said new CEO and President Kazuo Hirai to press today, as reported by USA Today.Part of Hirai's turnaround efforts will be a fiscal pilates regimen, focused on strengthening the core businesses of mobile, digital imaging and gaming. The plan is for these groups to generate 70 percent of total sales for the company and 85 percent of income for the entire electronics business.On the games front, the company plans to increase sales through PSN subscriptions and downloadable content, along with expanding the PlayStation Suite lineup and its compatible devices. For all of Sony's problems, the games division seems to be the least of its worries.
Kaz Hirai reveals 'One Sony' turnaround strategy, will cut 10,000 jobs
Freshly minted Sony CEO Kaz Hirai has revealed his plan to turn around Sony's fortunes and as rumored, it includes significant cuts. Two days ago, the company revised its projections for the 2011 fiscal year to reflect a $6.4 billion loss. The One Sony plan includes reducing headcount by 10,000 in the 2012 financial year, a number that also reflects jobs leaving Sony as businesses are sold or otherwise reorganized, and will cost it 75 billion yen ($926 million) during 2012. Currently, the plan is to focus on digital imaging, gaming and mobile for growth, until those three make up 70 percent of its total sales in 2014. As far as its beleaguered HDTV business, it's going forward with the plans announced during CES to streamline the product line, reduce its costs, and return to profitability by 2014. Looking forward, there's slightly fuzzier promises to "develop and commercialize" OLED and Crystal LED technology. Beyond those the idea is to expand in emerging markets, as well as medical and 4K related technologies. There's more details in the press release after the break and presentation slides linked below, we'll let you know if there's any more information revealed on a conference call later on today.
Sony to cut 10,000 jobs and slash bonuses, says Japanese newspaper
There have been some major adjustments at Sony HQ already, but Japanese business sheet Nikkei reckons they're nothing compared to what's on the horizon. It reports that, come an announcement on April 12th, Kaz Hirai will reveal plans to clear out 10,000 jobs by the end of this year -- that's six percent of his workforce. The paper also says that seven execs, including chairman Howard Stringer, could be asked to forgo their bonuses, as the company concedes a $3.2 billion loss for 2011. It's a just a single report and it's entirely possible that none of this will happen, but merely the hint of such austerity could perhaps serve Hirai's interests, even if he ends up being less drastic when Thursday comes around.
Michael Lynton becomes CEO of Sony America, Nicole Seligman picked for SCA president
Plenty of moving and shaking going on after the bell today. Hot on the heels of news that RIM's CEO is making major internal changes, in flies word that Michael Lynton has been selected as the CEO of Sony Corp. America. He's coming over from Sony Pictures Entertainment, where he previously sat as the Chairman and CEO. Effective June 27th, Lynton will have a few new reports as well, and unsurprisingly, Sir Howard Stringer is more than encouraged by the move.Stringer stated: "Lynton is an incredibly accomplished executive who has distinguished himself in at least three different fields -- entertainment, technology and publishing." In related news, Nicole Seligman has been appointed SCA President; we're told that Lynton will be overseeing Sony's entertainment businesses (including SME, Sony / ATV Music Publishing and SPE), while Seligman will have responsibility for Sony's U.S. headquarters operations. Hard to foresee what two relatively new names mean for the consumer side of Sony's business, but we'll be keeping a close eye on their first hundred days, for sure. The full release is after the break.
Sony gets a Kaz-style kick to its corporate guts, emphasizes its oneness
Kazuo Hirai doesn't officially grab the reins as Sony's CEO and President until April 1st, but in reality he's already at the stirrups. He's making a number of exec-level switches that he hopes will deliver "rapid and optimized decision-making processes as 'One Sony'." His strategy? An inner circle consisting of himself and fellow reformers -- such as CFO Masaru Kato -- who will engage with department heads and, you know, make 'em do stuff faster. Digital imaging, gaming and mobile will be considered pillars of the electronics business and receive more "concentrated" resources as a result. Meanwhile, Kaz will directly oversee the struggling TV business in an effort to turn it around, which means his days of enjoying life and staring out of windows are probably numbered. See the press release for more tectonic detail.
Sony appoints Kaz Hirai to prez and CEO, replacing Sir Howard Stringer
After a bout of he said / she said earlier this year over the possibility of executive deputy prez Kazuo Hirai becoming president and CEO of Sony Corp., Sony has decided to make the news official this morning. As of April 1, 2012, Kaz will step up to the job of current CEO Sir Howard Stringer, effectively kicking off two months of vacation for Stringer before he becomes chairman of the board of directors in June 2012."I look forward to helping Kaz in every way I can so that succession leads inevitably to success," Stringer said in the announcement press release. Kaz was ready with the back patting as well, as he said, "Challenging as times are for Sony now, were it not for the strong leadership of Sir Howard Stringer these past seven years, we would have been in a much more difficult position." Hirai is known for having lead Sony Computer Entertainment through its most successful years, as well as being the guy who says "Riiiiiiiidge Racer!" really enthusiastically.Stringer's appointment to the board of directors in June awaits final approval during the annual shareholders meeting in June. If confirmed, he will replace retiring chairman Yotaro Kobayashi, though he will in no way match Kobayashi's totally sweet name.
Sony confirms Kazuo Hirai as new President and CEO, replacing Howard Stringer
Sony has just confirmed Kazuo Hirai as its new CEO and President, validating rumors that have been swirling for a few weeks now. Outgoing CEO Howard Stringer, meanwhile, has been appointed Chairman of Sony's Board of Directors. The Hirai era officially begins April 1st, while Stringer will assume his new role sometime in June (until then, he'll remain executive chairman). Today's announcement, coming a day before Sony's earnings call, brings an end to more than a year's worth of speculation, though Hirai's selection hardly comes as a surprise, considering his recent string of promotions. In April, he was named Executive Deputy President; five months later, he was promoted to Sony Computer Entertainment Chairman. According to Stringer, in fact, Sony has been grooming Hirai since as early as 2009, when the Board began designing its succession plans. Kaz, he says, stood out from the crowd: Kaz is a globally focused executive for whom technology and the cloud are familiar territory, content is highly valued, and digital transformation is second nature. I believe his tough-mindedness and leadership skills will be of great benefit to the company and its customers in the months and years ahead. I look forward to helping Kaz in every way I can so that succession leads inevitably to success. It was my honor to recommend him to the Board for the positions of President and CEO, because he is ready to lead, and the time to make this change is now. Kaz, for his part, acknowledges that Sony is going through some "challenging" times at this juncture, but credits Stringer with steadying the ship, and seems clear-minded about the future. "The path we must take is clear: to drive the growth of our core electronics businesses - primarily digital imaging, smart mobile and game; to turn around the television business; and to accelerate the innovation that enables us to create new business domains," the 51-year-old PSN architect explained. "The foundations are now firmly in place for the new management team and me to fully leverage Sony's diverse electronics product portfolio, in conjunction with our rich entertainment assets and growing array of networked services, to engage with our customers around the world in new and exciting ways." Click past the break for Sony's full press release.
Nikkei: Kaz Hirai stepping up as Sony president, Stringer staying on as chairman and CEO
It's unfortunate, but it seems unlikely we'll be hearing Sony Computer Entertainment's current "executive deputy president" Kazuo Hirai regaling us with extended "Riiiiiiiiidge Racer!" shouts much more, as Nikkei is reporting he'll be taking over as president of Sony Corporation in the coming months. Current president, CEO and chairman Sir Howard Stringer will apparently be losing a third of his title to Kaz, and the move is expected "as soon as April," as translated by our bilingual cohorts at Engadget. When Hirai was promoted to the deputy president role earlier this year, he became the heir apparent to Stringer's job as president, so it's not exactly an enormous surprise to hear this report. Sony had yet to confirm the news as of publishing, but Nikkei isn't exactly known for its false reporting. All the same, we've reached out for confirmation. Update: Sony tells us it "Doesn't comment on rumor or speculation." Not exactly a denial, but take that as you will.
Kaz Hirai: Sony is 'in discussions with non-Sony companies' over PlayStation Suite
Wondering whether Sony's PlayStation Suite will ever really leave its nest? While the SDK won't be out until next month, SCE Chairman Kaz Hirai just told us here at AsiaD that this Android-friendly framework's still open to all other manufacturers, and he emphasized that it "isn't an ecosystem where we want to keep everything within the Sony family" while pimping the three PlayStation Certified Android devices so far: Xperia Play, Tablet S and Tablet P. Kaz also confirmed that Sony's currently "in discussions with non-Sony companies to bring them onboard," but as to when this will come to fruition, the company will make those announcements "when it's time to go public with it," so we shall see.
Sony's Kazuo Hirai: liveblog from AsiaD!
We're back! AsiaD's concluding today, but we've got a couple of big hitters left on the schedule. Kicking things off this morning -- yeah, it's morning, we're in the future -- is Sony's Executive Deputy President, Kazuo Hirai, and we're guessing he'll be shooting it straight regarding the PS Vita, those nasty "outages" and whatever else he feels like keeping us abreast on. Join us after the break for the blow-by-blow!
Live from Sony IFA 2011 press event
What better way to kick this year's IFA conference in beautiful Berlin, Germany than a good old fashioned Sony press conference? We're getting ready to get things started here, so sit down, grab a beverage and reach for those 3D glasses to read along at home [note: this liveblog is not in 3D]. Photos by Zach Honig.
Kaz Hirai to become Sony Computer Entertainment Chairman, leave Andrew House with tough CEO gig
When you've had to deal out as many public apologies as Sony has had to perform over its protracted PSN hacking saga, the typical expectation is that someone somewhere will be getting fired or "reshuffled" into a new post. No firings at PlayStation headquarters, however our old pal Kaz Hirai is getting a new position as Sony Computer Entertainment Chairman, with Andrew House succeeding him in the CEO hot seat. Mr. House was previously Sony's PlayStation chief in Europe, so he's simply stepping up to be responsible for the company's global operations, but Kaz's new duties are less clearly defined. Both changes will go into effect on September 1st, a day after current Chairman Akira Sato retires, giving both Kaz and Andrew a little time to get accustomed to their new(ish) surroundings before tackling Sony's massively important PS Vita launch at the tail end of the year.
SOE begins restoring game services
Sony Online Entertainment has good news for fans of its dormant MMORPGs. Service restoration has officially begun for all of the company's online games, forums, and related websites as of May 14th. Earlier today, the company issued a press release with the details as well as a statement from Sony executive Kazuo Hirai. "Our main priority is the safety and security of our customers' personal information. We are making consumer data protection a full-time, company-wide commitment, and have applied enhanced security technologies so that our customers can feel protected and confident about playing our games," Hirai said. SOE provided details on its Welcome Back promotion earlier this week, and today's release provides links to a handy chart covering promotions for all of the company's games as well as a summary of the initial customer service notice and contact information. The promotions include free play time for former (not just active) subscribers to SOE's MMOs, making it a great time to return to an old favorite.
Sony responds to Congress: all 77 million PSN accounts compromised, finger pointed at Anonymous
We've heard Sony explain itself at length regarding the gigantic PlayStation Network breach, but this might be the most useful version of the story yet -- it's the one that Sony's Kaz Hirai is forwarding to US Congress members concerned about your personal information. The official PlayStation.Blog has the full English document up on Flickr for your perusal, and we'll warn you it's much the same tale -- Sony says all 77 million PSN and Qriocity accounts have had information stolen, but the company's still not sure exactly which pieces have gone missing, whether credit card numbers are compromised or not, or who could be behind the hack. Sony does say, however, that it had 12.3 million credit card numbers on file, and 5.6 million of them from the US, and that investigators found a file on one of the servers named "Anonymous" with the words "We are Legion" inside it. Hard to draw many conclusions from that. Update: Anonymous has apparently responded saying it "has never been known to have engaged in credit card theft."
