Sony Sketches out Strategy to Revive Company
April 13, 2012
Sony announced strategy in a bid to revive the company, according to an April 12, 2012 report by Reuters. As per the strategy, Sony is expected to focus on Smartphones, games, and cameras and reduce costs in TV business. It is reported that the Sony Group aims to reach sales target of 8.5 trillion yen (US$105.06 billion; US$1=80.9 yen) in two years. Sony plans to boost revenue of its mobile business by three times to 1.8 trillion yen (US$22.25 billion) over the next three business years. The company also seeks to increase sales of cameras and digital image devices by one-third to 1.5 trillion yen (US$18.54 billion) and raise revenue of game business by approximately a fifth to 1 trillion yen (US$12.36 billion) over three years. It is projected that Sony will cut fixed and operating costs of its TV business by 60% and 30%, respectively over two years. The company also said it plans to introduce relatively less TV models and team up with other TV manufacturers for next generation flat screens.