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Sony continues to restructure, wants to push forward in entertainment

Sony is working to restructure and turn its entertainment division into a revenue cash cow
By: Michael Hatamoto | Business, Financial & Legal News | Posted: Nov 18, 2014 6:31 pm
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Electronics company Sony is desperate to find ways to restructure and revamp its business offerings, as the company struggles to keep up with industry rivals. The company's PlayStation 4 continues to sell extremely well, but its high-definition TV (HDTV) sector and other units have greatly struggled. Meanwhile, Sony wants to prove it can turn its entertainment business around, so it is able to contribute to financial revenue.

 

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Sony Music and Sony Pictures total 18 percent of the company's overall sales, which is ahead of Sony's mobile business unit. However, the company still strives for $4.8 billion to $5.2 billion from the music division, at a time when the music industry is still trying to adapt to digital music.

 

"I understand that everyone expects me to show how Sony can be changed into a highly profitable company... and to unveil a roadmap toward growth for the overall company," said Sony CEO Kazuo Hirai.

NEWS SOURCES:Reuters.com, Expertel-group.com

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