New Sony CEO Kaz Hirai Reveals "One Sony" Strategy for Recovery

New Sony CEO Kaz Hirai Reveals "One Sony" Strategy for Recovery

Things are not looking too good for Sony. Recently, the company reported an expected record loss of $6.4 billion, marking the company's fourth year in the red and their worst loss ever. This comes at the back of weak demand for televisions and as it writes off deferred tax credits.

In response, newly appointed CEO of Sony, Kaz Hirai, recently held a press conference at the company's headquarters in Tokyo, Japan, and outlined his "One Sony" initiative.

Hirai reiterated Sony's desire to turnaround its television business but also said that Sony will focus on its core strengths, which are digital imaging, mobile and games. Under the new initiative, Hirai said that digital imaging, interchangeable lens cameras in particular, can help the company create a stable profit centre. And as part of a massive reorganization, related businesses such as tablets, mobile and Vaio computers will all be put under the same R&D umbrella to cut lead time so as to push products quicker out into market. Lastly, to revitalize their television business, Hirai plans to cut costs and streamline their product offerings and also explore new technologies such as Crystal LED and OLED.

Source: The Verge