Reuters: Technology News: New Sony CEO to directly oversee troubled TV ops

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New Sony CEO to directly oversee troubled TV ops Mar 27th 2012, 07:11 Tweet Share this Email Print Related News Special Report: The Sony Schism Mon, Mar 26 2012 Insight: Samsung: "fast executioner" seeks killer design Fri, Mar 23 2012 Reshuffle at Japan's Sharp blunts expectation for change Thu, Mar 15 2012 Japan's Sharp names new president as losses mount Wed, Mar 14 2012 Japan's Asahi Kasei to buy Zoll of U.S. for $2.2 billion Mon, Mar 12 2012 Analysis & Opinion Comic '21 Jump Street' leads box office Apple needs good, not just better, supply chain Related Topics Tech » Media » Japan » 1 of 2. Sony Corp's headquarters is pictured in Tokyo February 9, 2012. Credit: Reuters/Yuriko Nakao TOKYO | Tue Mar 27, 2012 3:11am EDT TOKYO (Reuters) - Sony Corp CEO Kazuo Hirai will directly oversee the loss-making TV business as part of a new management structure aimed at breathing new life into the struggling Japanese electronics and entertainment group, the company said on Tuesday. Hirai, who formally takes over as chief executive from Howard Stringer next week, will head a new home entertainment division, which oversees TVs and replaces a previous consumer products and services group. Sony will also form a new unit to oversee its medical business, which it has described as a growth area. The company said the changes would "drive revitalization and growth across Sony's core electronics businesses." Hirai inherits a company that - like much of corporate Japan - has been outgunned by rivals such as Apple and Samsung Electronics in recent years. The maker of Bravia televisions and Vaio laptops expects a 220 billion yen ($2.7 billion) net loss for the year to this month, a fourth straight year of losses, and due in large part to the ailing TV business. Sony hopes Hirai, credited with reviving the PlayStation game business through aggressive cost-cutting, can work similar magic with a TV business that has lost more than $11 billion over eight financial years. Long Sony's biggest product category by sales, TVs were overtaken by other segments in October-December. TVs accounted for 13 percent of overall sales in the quarter, down from 19 percent a year earlier and trailing games (16 percent) and combined sales from Sony Pictures and Sony Music (15 percent), according to the company's latest financial statement. Despite the Walkman creator's image as an electronics icon, its only profitable businesses this financial year have been in entertainment - Sony Pictures and Sony Music - and financial services. ($1 = 82.3500 Japanese yen) (Reporting by Chris Gallagher; Editing by Edwina Gibbs and Ian Geoghegan) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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