Word: stringers
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Correction Appended: November 21, 2006 Burning batteries are two words that Sony CEO Sir Howard Stringer would never like to hear again. Before reports surfaced in August that Sony-made lithium-ion batteries had an occasional tendency to fry Apple, Dell and other laptops, the boss of the sprawling Japanese media conglomerate was having a great year. For four quarters, Sony had beaten financial expectations (though it wasn't always profitable). The firm was leaner, following more than 10,000 job cuts and the closure of nine factories. The consumer-electronics division was back in the black. And the movie...
Burning batteries are two words that Sony CEO Sir Howard Stringer would never like to hear again. Before reports surfaced last summer that Sony-made lithium-ion batteries had an occasional tendency to fry Apple, Dell and other laptops, the boss of the sprawling Japanese media conglomerate was having a great year. For four quarters, Sony had beaten financial expectations (though it wasn't always profitable). The firm was leaner, following more than 10,000 job cuts and the closure of nine factories. The consumer-electronics division was back in the black. And the movie studio was riding high...
...after a massive voluntary recall of laptop batteries, Stringer turned opportunist, using the smoking cells as cover to clear out the vestiges of Sony's change-resistant culture. In Stringervision, the new Sony is led by software and linked horizontally across its vast product line. No more will the folks in the camera group not know what the TV-set guys are doing, he vows. He named a new boss of the consumer-electronics unit, Katsumi Ihara, to see to that. Software design is getting an overhaul too, so movies, MP3 players, TVs and cameras aren't strangers. The shining...
...profitable. In mid-October Sony revised forecasts for its 2007 fiscal year, which ends in March, predicting a 38% decline in net income, to about $435 million. The losses are partly owing to charges for the battery recall and delays in launching the highly complex PS3. For fiscal 2008, Stringer is still predicting a 5% rise in profit margins, though he admits he's not sure how he'll achieve it. "But I am not altering the profit target...
...question is whether the PS3 is the herald of Stringer's revitalized company, or a techno-turkey that will drag down profits for years. Sony envisions PS3 as much more of an entertainment command center than a box to play video games. It features a ferociously fast computer chip, the Cell, a high-definition Blu-ray disc player, a hard drive and Web browser. In Sony's view, you'll use the PS3 to play games, watch movies and surf the Web. You'll be so dazzled by the hi-def images that you'll want to upgrade your...