Business

Friday November 20, 2009

Sony targets 5% operating profit margin


TOKYO: Sony Corp aims to earn a 5% operating profit margin in three years by turning its struggling LCD TV and game operations profitable next year and launching 3D TVs and lithium-ion batteries for electric vehicles.

Sony, which offers Bravia LCD TVs, Cyber-shot digital cameras and PlayStation video-games, said yesterday it aimed to launch 3D TVs in 2010 and take a 20% share of the overall LCD TV market worldwide in unit terms in the year starting April 2012.

“We are a different Sony,” chief executive Howard Stringer said, putting forward the company’s target for a 5% operating profit margin and a return on equity of 10% in the business year starting April 2012.

Sony, which is headed for its second straight annual loss, shed jobs, closed plants and sold non-core assets this year to improve its cost structure, and investors are now awaiting convincing growth strategy from the Sony management.

Howard Stringer is targeting a return on equity of 10% in the business year starting April 2012. — Reuters

Sony also said it would make its game operations profitable next year by cutting costs and expanding both hardware and software sales. — Reuters


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