Friday, January 18, 2013

Sony CEO is Optimistic about the Company’s Comeback

Kazuo Hirai, chief executive of Sony, the Japanese electronics and entertainment company, which had been struggling to stay afloat, announces that they are already working towards a comeback but have a long way to go before everything falls into place. For the last 4 years, Sony was heavily into losses as rivals like Apple and Samsung surged ahead.

Sony had suffered immensely due to its sprawling bureaucracy due to which he is personally ensuring that stellar ideas for product development are not pushed to the back burner. His personal involvement will ensure that a suggestion or idea isn’t lost during the approval process or gets tied up in the bureaucracy.
A huge concern is the TV division of the company, which is facing problems for almost a decade now. Sony is facing stiff competition from Chinese, Taiwan and South Korean rivals that offer products at much cheaper prices. However, Sony will not back down; instead it will target those customers who are willing to shell out more. Sony’s annual loss was 457 billion yen ($5.1 billion) in the previous fiscal year (ended in March 2012).

Hirai still feels the company will undergo a turnaround as he held up Sony's new waterproof, full-HD cell phone at the CES 2013. The product will hit the shelves in a few months. Sony’s 4K or "ultra-HD" TV whose displays have four times the pixels of today's TVs met with positive responses as well. But even then, it could take many years for that technology to capture interest worldwide. Hirai concludes by saying that though they aren’t perfect, they have taken a step towards the right direction and are improving slowly but steadily.

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