Japanese electronics company Sony will try to cut costs by reducing TV and smartphone product lineups, and spend more in its PlayStation game console line and invest more in image sensors. Sony wants to push its PlayStation video game division, hoping to ramp up sales up to $13.6 billion, as the console industry continues to heat up.
We're not aiming for size or market share but better profits," said Hiroki Totoki, Sony's chief of mobile, recently noted in an investor conference. Sony will sacrifice sales while trying to ensure its TV and smartphone businesses are able to turn a profit.
The electronics company has struggled - especially as the Japanese and US economies suffered in recent years - but is taking a closer look at its financials.
"There's a lot of expectations for Sony now, but nothing is sure until there are results," said Akino Mitsushige, Ichiyoshi Asset Management chief fund manager. "Getting out of the mobile market is an option, but they can't do that now, so they will need to make some fundamental changes."
Last updated: Jun 16, 2020 at 04:29 pm CDT
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