The “One Sony” initiative, is Sony’s attempt to reorganize the company and bring it back into good standings with its investors.
Part of that plan lead them to basically lop off the gangrenous arm of the ailing company by cutting back on chemical and small to mid sized LCD production.
Sony was essentially bracing for the end of a terrible fiscal year in which the company expected a $6.4 billion dollar loss, the biggest in the company’s history.
“We consider the current situation to be very serious,” said Masaru Kato, chief financial officer for Sony Corp. “We will take resolute measures to transform our business without protecting any sacred cows.”
A surprise announcement of the cancelling of Qore, a digital Playstation magazine with a four year run had people scratching their heads on what might be on the chopping block.
This was followed by Kaz Hirai who had recently ascended to CEO and Executive Deputy President came out and said that the company was refocusing on it’s mobile, digital imaging and video game businesses.
Sony is hoping that the profitability of it’s video game businesses will help to dig it out of the rut the company is currently in.
This also means Sony is putting more money in technology development so it can offer more downloadable titles for PSN, as well as more Playstation Suite compatible devices.