Sony's new chief, Kazuo Hirai, has expressed confidence that the company's TV business can be turned around and made profitable again. Speaking to reporters in Tokyo today (Thursday), Hirai said that the company will streamline its TV operations -- eliminating some 10,000 jobs -- and focus on developing the crystal clear OLED and Crystal LED television sets that are currently out of the price-range of most consumers. "I will definitely change Sony and revive it," he told reporters. "There is no time but now for Sony to change." He acknowledged that eliminating jobs, shutting down unprofitable units, and imposing other reductions in operational costs will be painful. However, he added, "We can't turn away from making painful decisions, because if we are scared of the pain, we won't be able to change." On Wednesday Sony slashed its earnings outlook, warning that it expects to take a $6.4 billion loss for the just-ended fiscal year, its worst loss ever.

12/04/2012