| kowenicki said: Bloomberg
Sony Sticks With TV Profit Target Amid Declining Market Share
By Mariko Yasu - Apr 11, 2013 5:38 AM GMT+0100
Sony Corp. (6758) is sticking with a goal of turning Japan’s largest TV-manufacturing business profitable this fiscal year even as it continues losing global market share to Samsung Electronics Co. (005930) Sony plans to increase TV sales this fiscal year from a target of 13.5 million units in the year ended March 31, Masashi Imamura, a senior vice president in charge of home entertainment products at Sony, told reporters in Tokyo today. He didn’t give a new number. 
The TV business probably lost about 80 billion yen ($804 million) in the fiscal year ended March 31, Imamura said, reiterating a company projection from February for a ninth straight year of losses. Chief Executive Officer Kazuo Hirai is focusing on high-end products, such as the ultra-high definition Bravia sets that offer resolution four times sharper than conventional models, as part of plans to revive the operation. “Major operational reform at the unit is over,” Imamura said. “We will continue to make efforts to trim costs this fiscal year. We have reduced the costs we had planned to reduce in fiscal 2012, and that will help us make the business profitable.” The company trimmed its full-year TV sales target to 13.5 million units in February from the 17.5 million projected at the beginning of the fiscal year, citing a slowing global economy. The company is reducing the number of models and cutting 10,000 jobs to lower expenses after losing about 31 percent of its market value last year. |
Not good for TVs... a big drop yoy.
