If I were Sony's CEO, this is what I would do.

[gumby_trucker]

Sony needs to decide what it is based on the knowledge, skills and properties it currently owns.
Then it needs to have a very well developed strategy on how to utilize these resources in order to separate itself from the crowd.
In the 80s and early 90s Sony still meant quality engineering powering inventive consumer electronics.

Now quality is mostly a non-issue, as the average standard across the industry is 'good enough' for almost the entire market. Because of this, software and services have become the area of interest for driving progress and innovation.

There is definitely room for new developments in hardware but more along with software as integrated experiences, and less as standalone products.

I'm not sure what I'd choose to be the global strategy for the company, but one thing I'd definitely do is set up a number of development teams, consisting of the brightest designers and engineers at the company, and give them the mission of identifying and attempting to solve any large 'gaps' or issues in today's consumer electronic and information ecosystem.

I assure you if you think about it for a while it is not difficult to identify many individual features which are currently missing from the products we use on a daily basis (products like windows, OSX, iOS, phones and tablets, etc etc) as well as key areas of day to day life that could benefit from streamlining with existing technology.

The challenge is not to try and address these issues independently but to try and come up with a small number of products that solve multiple issues at once, therefor effectively exposing a 'gap' in the way we currently lead our lives, and along the way launching a "must-have" product.

This is the kind of thinking I believe went behind the development of game-changing products like the ipod, iphone, Wii and so forth. It's no coincidence the products who have over the years undermined Sony's monopoly in different areas are a result of such a line of thinking. This is the line of thinking of the UNDERDOG.