updated 07:40 am EDT, Thu April 5, 2012
Hirai to unveil One Sony strategy in next week
Sony in a brief message called for a corporate strategy meeting on April 12 in which it would outline the company's new direction for the media. Details were short, but it would involve just-instated CEO Kaz Hirai. Most expect the discussion to center around Hirai's definition of a "One Sony" strategy meant to eliminate the 'silos' that have kept Sony divisions either isolated or even competing against each other.
The executive had promised swift action once becoming CEO after the company's most recent quarter, which marked a $1.2 billion equivalent loss. Sony is currently predicting a $2.7 billion loss for the whole fiscal year that wrapped up at the end of March, its fourth in as many years.
Several factors are known to be at work. The northern Japan earthquake and a tough local economy have curbed both supply and demand. Sony's core TV business has been hit by both a heavily saturated audience and fierce competition from non-Japanese firms like Samsung. Other divisions like SCEA, which manages the PlayStation business, have been profitable in more recent years but have also slipped behind equivalents at Microsoft and Nintendo.
Some hope will come from Sony's assuming direct control of its smartphone work from its former long-time partner Ericsson.