Sony Banking on Games Division to Help Return the Company to Profit - NewsWilliam D'Angelo, posted on 20 September 2012 / 10,379 Views
Sony's CEO Kazuo Hirai has said that Sony's focus will be moving away from its TV division which has posted losses for many years. The company will focus on increasing sales for its games, digital cameras, smartphones, and tablets, in order to turn the company around.
"I think we will be profitable this year," said Andrew House speaking with Reuters. "We have a growing installed base, growing connectivity of the PS3."
Sony is also expecting an increase in PlayStation 3 sales due to the newly announced slimmer model, which will help offset the decrease in its handheld sales. Sony cut its forecast for the PSP and Vita for the current fiscal year which ends March 31, to 12 million combined from 16 million.
Sony's gaming division did profit $371 million for the last fiscal year. While Andrew House did not provide a forecast for the current fiscal year, he did reiterate that Sony forecasts the division to profit $1.02 billion in 2015.