From CNET: Sony's television division, which will be spun off Tuesday into a new subsidiary known as Sony Visual Products, will finally turn a profit this fiscal year, its chief executive believes.
Although he stopped short of saying just how much of a profit the Sony television business would generate, chief Masashi Imamura told reporters in Japan on Monday that a reduction in fixed costs, coupled with higher shipments, will help his subsidiary post a profit when Sony's fiscal year ends in March. Reuters, which was in attendance, reported on his comments Monday.
Sony's television division has been the subject of much debate over the years. The division has posted losses each of the last 10 years, and Sony chief Kazuo Hirai has been called on to sell it off. Each protest, however, has been met with pushback by Hirai, who has argued time and again that things can turn around.
Hirai decided earlier this year that Sony would spin off the ailing TV business, which lost $250 million in the last fiscal year. He argued that the move would allow for more transparency in the operation and could invite equity partners to come in and work with Sony on improving its operation.
View: Article @ Source Site
