46
-8%
8,408 $m
Electronics
Sony Chairman Howard Stringer retired in June, following the handoff in late 2012 of the CEO position to Kazuo Hirai. Now firmly under Hirai’s leadership, Sony continues working to unify and revitalize its businesses. “One Sony” symbolizes its dedication to cohesive management and rapid decision-making, reaping rewards as Sony announced its first annual net profit in five years. Decisive actions—such as the sale of the company’s US headquarters in New York, widescale restructuring, the upcoming launch of PlayStation 4, and the acquisition of GaiKai, a US cloud gaming company to boost game streaming services—and a push to deliver products living up to the “make.believe” tagline, all demonstrate awareness of the need to adapt. Sony has already launched its third-generation wearable device, SmartWatch 2, and a great deal is riding on the success of its Xperia products. The brand has advanced into medical technology with its joint venture Sony Olympus Medical Solutions in a bid to capture share in the surgical endoscope market with products offering 4K and 3-D picture quality. The challenge remains that Sony still relies on its financial services business and, to a lesser extent, its entertainment (television, movie and music) divisions. The test for ongoing success for Sony will be returning the consumer electronics business to profit and generating sustained demand across all its business units.