Massive losses don’t deter Sony shareholders
Sony’s financial problems have gone anything but under the radar in the recent months. The PlayStation division has all but held the company afloat as the PC business has plummeted them to record losses. The company, however, cannot be focused on a narrow view that sees success only through the PlayStation’s eyes.
Unfortunately, due to the lack of success with the PC division, Sony’s losses have now totaled to $1.3 billion. Sony has since decided to spin-off its PC division and focus its assets in the most beneficial sector.
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Yesterday, Sony held a shareholder meeting, and despite the losses and destruction throughout the company, shareholders decided to continue to back company CEO Kaz Hirai. Deficits have been the result in six of the past seven years, and with the fiscal year ending on March 31, 2015, yet another loss is already expected.
While not everything is bad for Sony, the television division is also significantly behind competition like Samsung. Sony used to be a power player in the market and has since seen the trends suggest otherwise.
Hirai continues to stand by the point that Sony will once again rise to power in the entertainment space as a whole. Although gaming is the lone bright spot, Hirai wants to take that success and reciprocate it throughout the entirety of the company.
While it seems silly to continue to back failure, the recovery has already begun. Spinoffs and layoffs are happening throughout Sony, and although the leader could be to blame, that big of a shake up could also derail the process.
[Source: AP]