CHINA TOPIX

11/02/2024 01:35:54 pm

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Sony Aiming for $4.2 Billion Profit by 2018

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(Photo : Reuters) Sony's CEO has denied rumors its mobile division is up for sale.

Sony's CEO Kazuo Hirai offered some insight into the future of the Japanese electronics company. This includes removing several operating divisions and making heavy investments into profitable divisions.

The image sensor, entertainment and video game business will continue to receive regular investments and increased attention as Sony looks to a $4.2 billion profit by 2018.

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To cut losses, Sony eyes a potential sale of its mobile division. But if it doesn't find a buyer, it will significantly downsize the Xperia division.

Sony might also consider finding third-party providers to manufacturer Sony smartphones under the Xperia brand, while Sony drops most of the manufacturing and in-house component creation.

Hirai claims the TV division is also in a tight spot and could be sold if the right buyer comes along. This could mean the end for BRAVIA TVs. Sony made some big investments in 3D and plasma, but these didn't work out either.

Sony did sell its computer division last year to Japanese Industrial Partners for an undisclosed sum, showing its willingness to offload its divisions for a cheap price if it doesn't see any future profit from it.

Relying on entertainment and gaming isn't the worst idea either since both don't cost a lot to maintain when compared to mobile and TV.

Nokia had a similar issue with its mobile division, a sinker in terms of profit. Once it got rid of the division by selling it to Microsoft, Nokia started reporting high profits through its mapping and networking sales.

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