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Sony CEO completes quest to make the company successful again
If the news that Sony CEO Kaz Hirai will be stepping down in a few months came as a bit of a surprise this morning, then the latest peek at the company's books is a return to something more predictable. In the third quarter of Sony's fiscal year -- covering October through December 2017 -- its Playstation division continued to pull in the most money. Sales of home entertainment and audio gear, as well as camera components, were particularly strong over those three months; and unlike last quarter, smartphone income was in the positive, too.
The only Sony division to lose money this quarter was Mobile
Kaz Hirai's slimmer, fitter Sony hasn't just turned a corner, it's well on its way to earning its highest annual profit in years. The latest update on the company's financial health revealed that it pulled in $18.25 billion in revenue and squeezed out a quarterly net profit of $1.15 billion. As usual, it's Sony's two most prized businesses that stand out on the balance sheet: PlayStation and smartphone image sensors.
Sony's turnaround strategy is working
When Sony nominated Kaz Hirai to lead the corporation, he laid out an ambitious strategy that he titled One Sony. Hirai identified three key markets where he wanted Sony to be a leader: digital imaging, gaming and mobile, with the trio pushed accordingly. Five years later, and Hirai's managed to hit two out of three targets, with Sony's most recent financial reports vindicating his plan.
Sony's Kaz Hirai: 4K and HDR are here, robots are coming
By all accounts, Sony played it safe at CES this year. Outside of an OLED TV that projects sound from its screen, the company was light on game-changing product announcements. So when I sat down with Sony CEO Kazuo Hirai for an exclusive interview, we focused on the topic that's been on everybody's lips this week: artificial intelligence. Last July, Hirai announced that Sony was reinvesting in AI in a big way for the first time since cutting funding in 2006. He says its ambitions go far beyond a refreshed Aibo, but not to rule out the possibility of robopup resurrection. As to whether we should be worried about our autonomous K9s turning into agents of a robot uprising? Hirai says it's up to companies like his to keep the AI hounds at bay. Click here to catch up on the latest news from CES 2017.
Sony's search for profits could put an end to its mobile future
Focus. Surprise. Kando. Sony CEO Kaz Hirai has thrown these words around like crazy since he set out to revive the company with a three-year plan, and he's been coming up short ever since. Now he's pushing ahead with a new and improved strategy, one that sees Sony basically giving up on growing its mobile business. That's not to say it'll stop making smartphones (though that's possible too), but the company's done betting that its phones will find a home in everyone's pockets. What a shock, right?
Sony restructuring in Japan: camera lens plant to close with loss of 2,000 jobs
Kaz Hirai's "One Sony" rescue plan was designed to unite the many disparate arms of the conglomerate, shed 10,000 jobs and make cost savings wherever it could. Facilities in Sweden and the UK have already been closed, so now the company is shifting focus to its operations in Japan. Sony will close its Minokamo site, which currently produces camera lenses for DSLRs and smartphones, with production being moved to factories in Kohida and Kisarazu, 840 staff will lose their jobs. The company is also instituting an early retirement program across its various Japanese businesses in order to push the domestic total to 2,000 -- which it must do before a self-imposed deadline of March 2013.
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.
