In the mobile market, Sony said it wants to speed up the development and launch of new products, building on its recent Xperia Z flagship smartphone. It also wants to expand sales channels and relations with operators. The target for the mobile business, which includes smartphones and tablets, is to reach sales of JPY 1.5 trillion and an operating margin of 4 percent in the year to March 2015. In its PC business, Sony will focus on margins over volumes, with the aim of returning the business to profit in the current fiscal year.
For the gaming activities, Sony plans a new PlayStation in time for the year-end holidays. It also wants to integrate the gaming console more with other devices, using cloud technologies acquired in the takeover of Gaikai last year, and by expanding PlayStation games and services to smartphones. At its entertainment and financial services divisions, Sony said it aims to continue with steady growth and improved profitability.
The group reiterated its full-year targets for sales of JPY 8.5 trillion and an operating margin of over 5 percent, while the electronics business should deliver a margin of 5 percent on sales of JPY 6 trillion.
At a press conference on the strategy update, CEO Kazuo Hirai confirmed the board is considering a proposal from shareholders to spin off and list its entertainment business. Hedge fund investor Daniel Loeb of Third Point recently proposed the company sell 15-20 percent of the entertainment business, raising cash to invest in the electronics business. Hirai said only that the board was considering the proposal but gave no indication as to whether it was supported in the company, the Financial Times reports. He did not give a timeframe for when a decision on the matter is expected.
