Sony promises to turn things around by March 2009

By on June 27, 2008, 11:00 AM
It’s no secret that Sony is going through some ‘tough’ times. In this ever more competitive and globalized world it’s quite hard to stay on top. For now, Sony’s video game division is facing loses for over $3 billion and the slow adoption of Blu-ray technology is also a big setback, but the company believes brighter days are ahead.

Howard Stringer, CEO of Sony Corporation, promised to turn things around through some important changes. He talked about making their TV and video game business into a profitable division by focusing more on software and services, and also about beefing up their line of internet-linked devices so as to 90 percent of their electronics products wirelessly connect to the web by March 2011. The company hopes its strategy will help it accomplish their goal of turning a profit by the end of the fiscal year, in March 2009. Finally, Stringer also said Sony will be investing some $16.7 billion in future technology during the next three years.

User Comments: 2

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nirkon said:
So over the next three years they will spend 16.7 billion dollars to turn a profit on a 3 billion dollar loss + what they are spending right now... hardly seems logical
JosVilches said:
The 16.7 billion dollars investment is not meant to turn a profit on their 3 billion dollar loss, but rather to work in future products.There was a bit of mis-editing in that last paragraph causing the confusion, but it has since been corrected. Sorry about that.
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