Sony announced that it had lost aproximately $6.5 billion in the previous fiscal year. It is the biggest loss in Sony's history. In a year, the price of stock has fallen by 40%. Kazuo Hirai, who had replaced Sir Howard Stringer as CEO, announced digital imaging, gaming and mobile phones are now core products of Sony. TVs are no longer in the list. Actually, Sony TV's production has been giving it nothing but losses for eight years, and Panasonic and Sharp appear to have to deal with the same problem. Kazuo Hirai had already announced that TV's divisions would be halved, but this doesn't seem to be a solution. Apparently, Sony needs to rethink the whole conception of its business.
The Economist:
Back in Japanese hands
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