Sony Corporation says it’s going to transform its electronics business with a number of initiatives, including:
Strengthening the core businesses of Digital Imaging, Game and Mobile;
Turning the television business around;
Expanding business in emerging markets;
Creating new businesses and accelerating innovation; and
Realigning the business portfolio and optimising resources.
The company says it’s aiming for sales of 6 trillion yen (£46 billion) and an operating income margin of 5% in its electronics business for the financial year ending 31st March 2015, with approximately 70% of total sales and 85% of operating income for the entire electronics business coming from the digital imaging, gaming and mobile categories. Its plans for mobile include the integration of the former Sony Ericsson R&D, design engineering, and sales and marketing operations with its Sony Tablet and VAIO businesses.
As a result of these company-wide changes, Sony estimates that the number of employees across all its global businesses will be reduced by around 10,000 people in the current financial year. Some of these people may be transferred to other companies when Sony Group businesses are sold.
[Sony Corporate Strategy Meeting presentation]