Sony focusing on games to revitalize
Technology giant introduces "One Sony" plan aiming to help company return to profitabilty with focus on game business unit; 10,000 layoffs confirmed.
Sony will focus in part on games to help the company return to profitability, the technology giant announced today, after it was reported the firm would suffer a $6.4 billion full-year net loss and cut as many as 10,000 jobs.
Titled the "One Sony" approach, the initiative plans to focus Sony's efforts on its three core business units: digital imaging, game, and mobile. The company's plan is to generate about 70 percent of total sales and 85 percent of operating income from these business sectors by fiscal 2014.
In the game unit, Sony said it plans to continue to deliver "exhilarating entertainment experiences" for the PlayStation 3 and PlayStation Vita, as well as leverage its other gaming endeavors like accessories and peripherals. Sony will also aim to increase sales by adding new titles and subscription services to the PlayStation Network.
Additionally, Sony will beef up the slate of PlayStation Suite devices and content in an effort to spur sales. In sum, Sony said it is targeting its game business to record ¥1 trillion ($12.33 billion) and an operating income margin of 8 percent by fiscal 2014.
Outside of gaming, the company's One Sony plan aims to bolster sales by restructuring its television sector, expanding its business opportunities in emerging markets like India and Mexico, creating all-new businesses, and realigning its portfolio and optimizing resources.
Elsewhere in the One Sony plan, Sony confirmed it had cut 10,000 jobs, with the total bill for restructuring costs estimated to total ¥75 billion ($930 million).