Sony report details what Kaz Hirai has achieved in his first year as CEO

In recent years, Sony's state of the union report has made for wince-inducing reading, but one year into Kaz Hirai's "One Sony" strategy we seem to be seeing hints of a turnaround. The company is trumpeting its return to profitability after several loss-making quarters, thanks to boosts in its film and financial services units -- not to mention some aggressive asset sales. Unfortunately, Sony still has the weak heart of its consumer electronics business to nurse, but promises that aggressive cost-cutting in its TV department will see it back in the black shortly.

Sony has also announced plans to "significantly expand" its business model around the PlayStation 4 and promises to speed up smartphone development to incorporate the company's hardware and imaging know-how. With one eye on those dwindling PC market figures, Sony will look to make profitable machines rather than chasing market share. The company has also said that, aside from its successful Mirrorless ILC division, will shift focus on its imaging business from consumer electronics to medical and security. With all of this change, let's just hope that no-one forgets to buy someone in the PR department a wider camera lens.