Breaking News

Akasa Launches Newton N16, Compact Fanless Case for ASUS NUC 16 Pro TEAMGROUP Unveils the ACE 8K MicroSDXC Memory Card ASUS Announces Ascent QN10 Mini PC CORSAIR Launches Second Generation Nautilus II AIO CPU Coolers CORSAIR Launches VOXARA USB Gaming Condenser Microphone

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Essays
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed

Search form

Sony's Chief Executive Sets Reviving Electronics as Priority

Sony's Chief Executive Sets Reviving Electronics as Priority

Enterprise & IT Jun 23,2005 0

Howard Stringer, a Welsh-born former journalist who became the first foreigner to head Sony, vowed Thursday to make reviving the Japanese company's battered electronics sector a priority by focusing on key products that can bring long-term growth. Stringer _ whose appointment as Sony Corp. chief executive and chairman won shareholders' approval Wednesday _ gave no details on what businesses or products he may drop, saying a turnaround plan will be announced in late September.

"First and foremost, my responsibility is to revitalize Sony's electronics business," he told reporters at a Tokyo hotel. "Cost-cutting is one thing but growth is even more vital."

But Stringer hinted Sony would have to drop some product lines, comparing the company _ which also has movie, music and video-game segments _ to jam that was spread too thin.

"We can't do everything," he said.

Ryoji Chubachi, the new president and head of electronics, voiced similar sentiments. Sony was struggling because rivals were getting an edge in specific products, while Sony was fighting on all fronts, making a quick response to competition too complex, he said.

"We are setting sail in a storm," said Chubachi, who is expected to work closely with Stringer, a 63-year-old former executive at CBS Inc. who joined Sony in 1997.

Sony has seen its profits eroded and its once mighty brand power diminish in recent years because it has failed to churn out the hit products that made it a household name over the half-century since its founding. Sony started with the transistor radio and more recently developed the Walkman portable music player, Trinitron TV and PlayStation video-game console. Sony shares have lost more than half their value in the last five years.

Some analysts say Sony has fallen behind in portable music players, crystal-display panel TVs, DVD recorders and other products to rivals like Samsung Electronics of South Korea, Apple Computer Inc. of the United States and Sharp Corp. of Japan.

Kazuya Yamamoto, an analyst at UFJ Tsubasa Securities in Tokyo, says he wants to look at the September proposal before assessing Stringer but said there's no doubt Stringer faces a tremendous task.

"He has a good track record in North America, but it all depends on what he does from now, and it's going to be difficult," he said.

Stringer, who headed Sony's North American and entertainment operations, was credited with having achieved results in the United States through job cuts and other key moves such as Sony's acquisition of Metro-Goldwyn-Mayer, whose library of films such as the James Bond series is expected to be crucial in boosting sales of digital electronics gadgets.

One major challenge was communication, Stringer said, not only between management and the ranks but also among the sprawling sections at the Tokyo-based electronics and entertainment conglomerate. Stringer, who has dual British-American citizenship, speaks almost no Japanese and will continue to live in New York.

Analysts say Sony's entertainment interests sometimes also proved an obstacle because of copyright concerns that slowed innovation in gadgets. Sony was slow in coming out with music players that played the widespread MP3 files and gave up a big head-start to Apple's iPod.

When asked to name his favorite Sony gadgets, Stringer smiled and said he had just bought a high-definition rear-projection TV set, one of Sony's hits in the United States.

He also mentioned the PlayStation Portable, which he said will become a main tool for watching movies, and the upcoming next-generation game console, the PlayStation 3.

But he acknowledged it will take time to get Sony on the right track.

"We are not looking for a short-term fix. We are looking for long-term growth," Stringer said.

Tags: Sony
Previous Post
Sonic Brings HD Interactivity to DVD with the Release of eDVD 4
Next Post
AOL Tests New Entertainment Portal

Related Posts

  • Sony Rewrites the Rules of Super-Telephoto: Announces World's Lightest 400mm and 600mm G Master Primes

  • Sony Expands its ULT POWER SOUND series Lineup with 3 New Bass-Powered Speakers

  • Sony Launches ‘FE 100-400MM F5.6-8 OSS

  • Sony Launches FX5 Camera

  • Sony announces RX10V

  • Sony Semiconductor Solutions to Release Advanced 1/2-type CMOS Sensor for Mobile Applications

  • Sony Expands Professional Display Lineup with Crystal LED UNIFY

  • Sony Introduces BRAVIA 9 II and BRAVIA 7 II RGB TVs and the BRAVIA Theatre Trio

Latest News

Akasa Launches Newton N16, Compact Fanless Case for ASUS NUC 16 Pro
Cooling Systems

Akasa Launches Newton N16, Compact Fanless Case for ASUS NUC 16 Pro

TEAMGROUP Unveils the ACE 8K MicroSDXC Memory Card
Cameras

TEAMGROUP Unveils the ACE 8K MicroSDXC Memory Card

ASUS Announces Ascent QN10 Mini PC
Enterprise & IT

ASUS Announces Ascent QN10 Mini PC

CORSAIR Launches Second Generation Nautilus II AIO CPU Coolers
Cooling Systems

CORSAIR Launches Second Generation Nautilus II AIO CPU Coolers

CORSAIR Launches VOXARA USB Gaming Condenser Microphone
Consumer Electronics

CORSAIR Launches VOXARA USB Gaming Condenser Microphone

Popular Reviews

Endorfy Thock V2 Wireless Keyboard

Endorfy Thock V2 Wireless Keyboard

The Quiet Technology Behind the Spin

The Quiet Technology Behind the Spin

SoundPeats Cove Pro

SoundPeats Cove Pro

Akaso Brave 8 Lite

Akaso Brave 8 Lite

Kioxia Exceria Plus G3 512GB microSD

Kioxia Exceria Plus G3 512GB microSD

be quiet! Dark Perk Mice

be quiet! Dark Perk Mice

SoundPeats C30

SoundPeats C30

XbotGo Chamaleon

XbotGo Chamaleon

Main menu

  • Home
  • News
  • Reviews
  • Essays
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed