Sony expects ROI after huge loss in 2011

post from Ubergizmo on 10 May 2012 04:06:56 AM. © Ubergizmo

Sony posted a record net loss of $5.74 billion for the fiscal year 2011. But the Japanese consumer electronics company said that it expects a return of profit this year as it cuts losses on its TV business, which has been a bottomless pit in recent years. In case you didn’t know, Sony’s shares are valued at under $15.5 billion, and it slipped to a quarter century low this week. With Kazuo Hirai as its new CEO, Sony is slashing costs and jobs in a bid to turn things around, particularly its struggling TV unit. Sony is apparently considering partnerships to help the company compete better in the TV industry. But more than that, Kazuo Hirai is looking to cameras, gaming and smartphones as an avenue to spur growth. With high hopes, Sony is expecting its operating profit to reach 180 billion yen this year until March of next year. (more…)

By Ubergizmo. Related articles: Sony store strategy is paying off, Sony Out of Samsung LCD Joint Venture,