Sony’s Road from Recovery to Growth Under CEO Stringer

Posted by Bill Belew on June 22nd, 2007 in Japan | Comments Off

Sony Corp. is going around the bend of recovery and heading up the hill of growth…according to their Welsh-born American CEO Stringer, the first non-Japanese to head the company.

It's been a long road.

1. a massive global recall of about 10 million lithium-ion batteries (cost $425 million)

2. a bungled roll-out of the PS3 because of embarrassing delays, production shortages and under pricing

3. getting their butts kicked by Nintendo's WII 

But…Sony's CEO is still bullish about growth.

Despite not meeting production goals, there were stiill 5.5 million PS3 machines sent to market.

Production problems have been solved.

Game offerings will be boosted.

Sony has also caught up with Sharp Corp. and Samsung Electronics Co. in flat panel TVs.

Unprofitable businesses have been dropped, assets sold off, jobs reduced and plants shuttered.

There is still a strong demand for liquid crystal display TVs, camcorders and digital cameras.

Sony's popular Bravia flat-panel TVs grabbed top world market share last year.

AND…

Profits this year at Sony are expected to be double from the 126.3 billion yen last year…to a record $2.7 billion dollars this year.

Yup…Sony seems to have what it takes to grow… a lot of money in the bank. 

 

 


 

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