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    Sony Forecasts $1.1 Billion Loss as Hirai Sells PC Unit

    This is not good news.


    Sony Corp. (SON1) forecast a surprise $1.1 billion loss and will cut 5,000 more jobs as Chief Executive OfficerKazuo Hirai sells its personal-computer business and splits the television division into a separate unit.
    Sony hasn’t ruled out selling its TV business in the future after receiving “various offers,” Hirai told reporters in Tokyo today. The net loss will total 110 billion yen in the year ending March 31, the company said in a statement, scrapping its revised October forecast of a 30 billion-yen profit. The company’s German traded shares fell.
    Hirai expanded his reorganization after failing to meet a pledge to end TV losses this year and spur a revival, having announced at least 10,000 job cuts previously and plans to focus on mobile devices, games and imaging products. Sales of Sony’s key products are declining as the company struggles to find new hits and consumers shift to mobile devices by Apple Inc. and Samsung Electronics Co.
    “The reform announced today comes far too late,” said Masahiko Ishino, an analyst at Advanced Research Japan Co. “Sony cannot take measures ahead of changes in market deterioration. There isn’t much hope to revive the electronics business overall.”
    into a wholly owned unit, Hirai said without elaborating.
    Hirai’s Plan

    The company’s full year operating income will be 80 billion yen, less than half its October forecast of 170 billion yen, while the sales projection is unchanged at 7.7 trillion yen, Sony said.
    “My responsibility is to turn around the electronics operation,” Hirai said today. “I’d like to say this time’s reform is final but amid intensifying competition, reform may be needed going forward.”
    German-traded shares of Sony fell 4.3 percent to the equivalent of 1,537 yen. Sony rose 1.5 percent in Tokyo before the announcement, narrowing its loss this year to 11 percent.
    The company cited the costs of restructuring its TV and PC units for the revision to earnings.
    Sony is taking charges of 70 billion yen this year, an increase of 20 billion yen from its October forecast, and also another 70 billion yen in the 12 months ending March 2015, it said. Annual fixed costs are forecast to fall by more 100 billion yen in the following year.
    Samsung, LG

    The world’s No. 3 TV maker kept its October sales forecast for 14 million liquid-crystal-display sets after cutting it from a projection of 15 million last year. TV operations will lose 25 billion yen this year, the company said, the 10th straight annual loss for the maker of Bravia sets.
    The TV business has lost ground in a contracting market to put it further behind larger competitorsSamsung (005930) and LG Electronics Inc. Sony’s share of global TV revenue fell to 7.5 percent in the third quarter last year from 8.1 percent the previous quarter, according to NPD DisplaySearch.
    “Hirai lacks aggressiveness,” said Hideki Yasuda, an analyst at Ace Research Institute in Tokyo. “Sony needs to produce a new field for growth in order to increase its value.”
    Sony lowered its sales forecast for Xperia smartphones to 40 million units from an earlier projection of 42 million units. The company rose to No. 3 in global smartphone shipment revenue in the September quarter, according to data compiled by Bloomberg.
    ‘No Prospect’

    A bright spot for the company has been its new PlayStation 4 game console, which sold more than 4.2 million units in the first six weeks after its November release, outpacing competing machines from Microsoft Corp. and Nintendo Co.
    “There’s no prospect of its TV business being profitable,” said Makoto Kikuchi, the Tokyo-based chief executive officer for Myojo Asset Management Co. “Sony’s strengths are content such as games and movies. It cannot increase profit without moving its focus from TV production to content.”
    Sony has been selling assets to generate one-time profit and said last month it began cutting jobs at its Hollywood film studio as part of $250 million in cost reductions after billionaire investor Daniel Loeb pushed for a spinoff of a portion of the entertainment unit.
    Since the film unit posted a loss in the September quarter after “White House Down” flopped at the box office, Sony has found commercial and critical success with “American Hustle” and “Captain Phillips,” both of which garnered best-picture nominations at the Academy Awards. This year, Sony will release a sequel to 2012’s “The Amazing Spider-Man.”
    Quarterly Profit

    The company also reported third-quarter earnings today, with net income of 27 billion yen in the three months ended Dec. 31 amid sales of the new PlayStation 4 console and a smaller loss in the unit that makes smartphones.


    Sony’s long-term credit rating was cut to junk last month by Moody’s Investors Service, which cited the challenges of reviving the TV and PC units. Sony was already rated junk at Fitch Ratings, while Standard & Poor’s rates Sony at the second-lowest investment grade.
    http://www.bloomberg.com/news/2014-0...ls-on-tvs.html

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    This is actually a good strategic decision. $1.1b loss for one time deal. this way, sony can focus on more profitable businesses.




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    Quote Originally Posted by Serinous View Post
    This is actually a good strategic decision. $1.1b loss for one time deal. this way, sony can focus on more profitable businesses.
    Not really, bro. There isn't much you can do in this situation. They are steadily losing ground overall.

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    Quote Originally Posted by Sub-stance1 View Post
    Not really, bro. There isn't much you can do in this situation. They are steadily losing ground overall.
    Tell me how is it not a good long-term strategic decision to sell off a division that isn't one of the company's core competencies/businesses, and in turn direct its resources to other core business?




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    Quote Originally Posted by Serinous View Post
    Tell me how is it not a good long-term strategic decision to sell off a division that isn't one of the company's core competencies/businesses, and in turn direct its resources to other core business?
    It doesn't matter what we think. Its about the shareholders, and i don't see over a billion dollar loss as being something they want to hear. Its too early to tell if it was a good decision yet.

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    Quote Originally Posted by Sub-stance1 View Post
    It doesn't matter what we think. Its about the shareholders, and i don't see over a billion dollar loss as being something they want to hear. Its too early to tell if it was a good decision yet.
    You're right about the shareholders. Share price will react to this news indeed. But that's all short-term thinking. Like I said. This is a strategic move. Shareholders who truly want to invest in a company they believe in will understand the move. Not hedge funds or market timers who want to flip for a quick gain.

    Yes, it's too early to tell if the decision was a good one. Just like it's too early to tell if MS's new CEO was a good choice after all.




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    No, of course it isn't something you want to hear. However, you definitely don't want to hear that same thing year in and year out. Like Serinous said, good decision. It isn't too early to tell unless anyone here has some thoughtful insight on how they can turn it around and Sony just hasn't figured it out yet.




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    Quote Originally Posted by Serinous View Post
    You're right about the shareholders. Share price will react to this news indeed. But that's all short-term thinking. Like I said. This is a strategic move. Shareholders who truly want to invest in a company they believe in will understand the move. Not hedge funds or market timers who want to flip for a quick gain.
    Its strategic but what else can they do? Its never good when you have to lay off 5000 employees. That doesn't really show growth. On the bright side PS is doing fine but as a whole their look is not so encouraging.

    Yes, it's too early to tell if the decision was a good one. Just like it's too early to tell if MS's new CEO was a good choice after all.
    yep, but that's apples and oranges. Xbox division isn't the only profitable one at MS. They are doing good overall.

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    Quote Originally Posted by Sub-stance1 View Post
    Not really, bro. There isn't much you can do in this situation. They are steadily losing ground overall.
    Really, bro. When Hirai became CEO the choice was made to persue the three pillars of gaming, mobile and digital imaging. This was inevitable. It's like pruning dead branches off of a tree or plant, it has to be done for growth. I heavily suspect the TV dept to be offloaded soon and all those resources can go to working on Sony's strengths. A turnaround of a conglomerate doesn't happen in a year or two. Still in rough waters but not quite losing ground overall, PlayStation brand is profitable and leading current gen.

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    Quote Originally Posted by Sub-stance1 View Post
    yep, but that's apples and oranges. Xbox division isn't the only profitable one at MS. They are doing good overall.
    we're talking about strategic decisions and how they are long-term in nature and that it will take some time to determine if the decision was the right now. Both are strategic decision, both are long-term. Apples to apples to me.

    Unless you're just comparing MS to Sony in terms of profits, then yeh. But that wasn't the point of my posts either.




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    Quote Originally Posted by Ghost View Post
    Really, bro. When Hirai became CEO the choice was made to persue the three pillars of gaming, mobile and digital imaging. This was inevitable. It's like pruning dead branches off of a tree or plant, it has to be done for growth. I heavily suspect the TV dept to be offloaded soon and all those resources can go to working on Sony's strengths. A turnaround of a conglomerate doesn't happen in a year or two. Still in rough waters but not quite losing ground overall, PlayStation brand is profitable and leading current gen.
    Playstation brand isn't only one part of sony though. I get that ps is doing good but that alone can't sustain them. The low investment grade and downgrade credit rating twice doesn't scream they are gaining ground. But its just like Kaz said, things will get worse before they get better.

    Quote Originally Posted by Serinous View Post
    we're talking about strategic decisions and how they are long-term in nature and that it will take some time to determine if the decision was the right now. Both are strategic decision, both are long-term. Apples to apples to me.
    Apples to apples in they both have new CEOs but not the same when you compare their status as a company and why they were put there.

    Unless you're just comparing MS to Sony in terms of profits, then yeh. But that wasn't the point of my posts either.
    I don't know the profits of either but MS worth has gone up while sonys has gone down. Like I said in another post about Kaz saying things will get worse before they get better. Turning things around wont happen overnight. At least i's not all bad though. PS is doing good which is good news for gamers.
    Last edited by Sub-stance1; 02-06-2014 at 17:05.

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    I am no expert like you sub-stance1 but

    http://uk.finance.yahoo.com/q?s=SNE

    doesn't shareholders mostly care about this ????
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    Quote Originally Posted by Sub-stance1 View Post
    I don't know the profits of either but MS worth has gone up while sonys has gone down. Like I said in another post about Kaz saying things will get worse before they get better. Turning things around wont happen overnight. At least i's not all bad though. PS is doing good which is good news for gamers.
    This I agree.

    @ Shingo's post, looks like investor reaction is fairly positive.




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    Quote Originally Posted by Shingo View Post
    I am no expert like you sub-stance1 but

    http://uk.finance.yahoo.com/q?s=SNE

    doesn't shareholders mostly care about this ????
    Thats a boost in stock because of the selling of the Pc unit. Before that it had dropped more than 12%.

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    Quote Originally Posted by Sub-stance1 View Post
    Thats a boost in stock because of the selling of the Pc unit. Before that it had dropped more than 12%.
    And now it looks like it rebounding based on the news. Overall, positive response.
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    Quote Originally Posted by Sub-stance1 View Post
    Thats a boost in stock because of the selling of the Pc unit. Before that it had dropped more than 12%.
    So it is a good decision then?




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    Quote Originally Posted by Demi_God View Post
    Did you actually read the article or just read the title and the first paragraph with a chuckle and decided to post it. o_O Read the entire article Sub-stance1.
    lol..I did read the article. i'm not like other people here who post stuff without reading it first. It's right there in plain english. Sony electronic business is in trouble and continues to take losses. Its not like we didn't know this already. PS is doing ok but its not like sony's only business is playstation. It is what it is. Its not like im saying they are doomed or anything.
    Last edited by Lethal; 02-07-2014 at 03:28.

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    Quote Originally Posted by Sub-stance1 View Post
    This is not good news.
    Actually it is, PC market is dying due to smartphones and tablets, Sony will focus on their mobile departments where they are profiting, making the TV department independent will allow them to react to the market & develop faster without having to wait for higher ups, and will operate separately to Sony ( the parent company) which means their profit and losses will be separate to Sony.
    This is very good news although I don't think you realised that when you posted it

    I'm surprised to see negativity here about it, everyone else thinks its a good move.

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    Last edited by TGO; 02-06-2014 at 22:11.

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    Quote Originally Posted by TGO View Post
    Actually it is, PC market is dying due to smartphones and tablets, Sony will focus on their mobile departments where they are profiting, making the TV department independent will allow them to react to the market & develop faster without having to wait for higher ups, and will operate separately to Sony ( the parent company) which means their profit and losses will be separate to Sony.
    This is very good news although I don't think you realised that when you posted it

    I'm surprised to see negativity here about it, everyone else thinks its a good move.

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    What? How can this be considered good news for the electronics division. Last year Kaz pledged to cut TV losses and cut 10,000 jobs and it hasn't happened. Now they have cut 5000 more and and sell off the PC unit. They are basically saying they may have to reform because they can't turn it around. Is not all bad news, but to say this is very good news is sort of ridiculous.

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    Quote Originally Posted by Sub-stance1 View Post
    What? How can this be considered good news for the electronics division. Last year Kaz pledged to cut TV losses and cut 10,000 jobs and it hasn't happened. Now they have cut 5000 more and and sell off the PC unit. They are basically saying they may have to reform because they can't turn it around. Is not all bad news, but to say this is very good news is sort of ridiculous.
    So they haven't cut 10,00 jobs yet, but cut 5,000 more? How does that work?
    Wouldn't they need to cut 10,000 first in order to cut 5,000 more?
    See you seeing it as 15,000 jobs cut when they haven't cut 10,000 yet
    For all we know this 5,000 is part of the 10,000 and another 5k is to follow or not and it may stay at 5k
    But you seem to automatically assumed a 15,000 job loss, why is this?
    And yes it is good, this is what share holders wanted but Sony has kept the TV business but in a way shareholders will be happy with, this is good for share holders and Sony going forward, obviously its bad news because a department has been lost but the department is a loss in itself and sadly company's have to please shareholders, luckily not everyone listens because MS would have sold the Xbox brand by now if they did.

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    Quote Originally Posted by TGO View Post
    So they haven't cut 10,00 jobs yet, but cut 5,000 more? How does that work?
    Wouldn't they need to cut 10,000 first in order to cut 5,000 more?
    See you seeing it as 15,000 jobs cut when they haven't cut 10,000 yet
    For all we know this 5,000 is part of the 10,000 and another 5k is to follow or not and it may stay at 5k
    But you seem to automatically assumed a 15,000 job loss, why is this?
    And yes it is good, this is what share holders wanted but Sony has kept the TV business but in a way shareholders will be happy with, this is good for share holders and Sony going forward, obviously its bad news because a department has been lost but the department is a loss in itself and sadly company's have to please shareholders, luckily not everyone listens because MS would have sold the Xbox brand by now if they did.

    Sent from my SGP321 using Tapatalk
    I watched this thing on the consumer news channel where the reporter reported that the 5000 more jobs would be cut by 2015 were an addition to the 10,000 announced back in 2012. If i'm not mistaken thats what i heard.
    Last edited by Lethal; 02-07-2014 at 03:27.

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    Quote Originally Posted by TGO View Post
    Actually it is, PC market is dying due to smartphones and tablets.
    Correction, the laptop business is dying because most people used laptops back in the day for a device to use out and about, smartphones and tablets have now become so sophisticated and powerful that there is no need in having a laptop at all. Sony have been completely off the pace in this regards and I have yet to see a decent Sony tablet in the UK, they're mostly Lenovos, Samsungs, and Apples. They're even slow to the Smartphone table but at least they're finally starting to catch up in these regards.

    Their TV division though has been garbage for a long time now, for starters they're still more expensive than Samsungs, I mean seriously?! LG Philips even have much better displays now which is probably why they're ranked second and their TVs are cheap but higher quality than Sonys.

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    Quote Originally Posted by Varsh View Post
    Correction, the laptop business is dying because most people used laptops back in the day for a device to use out and about, smartphones and tablets have now become so sophisticated and powerful that there is no need in having a laptop at all. Sony have been completely off the pace in this regards and I have yet to see a decent Sony tablet in the UK, they're mostly Lenovos, Samsungs, and Apples. They're even slow to the Smartphone table but at least they're finally starting to catch up in these regards. Their TV division though has been garbage for a long time now, for starters they're still more expensive than Samsungs, I mean seriously?! LG Philips even have much better displays now which is probably why they're ranked second and their TVs are cheap but higher quality than Sonys.
    Yeah Samsung and LG have had better displays for alot cheaper than Sony for awhile now. No wonder Sony's TV division has been going belly up.

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    The Vaio line never really impressed me, Toshiba and others were always significantly cheaper.

    Now that Android tablets are fast enough and have HDMI/MHL out they tend to work pretty well as a media player.

    Maybe I am a special case, but I own a SONY Tablet and Phone xD
    Last edited by mickice; 02-06-2014 at 23:57.

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    Removed some posts to clean up the discussion. Lets discuss the topic please. Heads will fly if this goes south again. Oh they will fly!
    Last edited by Lethal; 02-07-2014 at 03:31.

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