Sony will leverage its streaming technology to bring PlayStation games to devices other than dedicated consoles as part of its ongoing turnaround, but said gaming profits will still suffer and lowered sales targets for its smartphones and cameras.
The Tokyo-based company emphasized in a strategy presentation Tuesday that it met its core goal of rebounding from record losses and making a small profit last year under new CEO Kazuo Hirai. But it achieved that mainly through selling off buildings and stock holdings.
Meanwhile, despite strong products including its Xperia phones and tablets, Sony's core electronics business remains in the red, and it cut lofty revenue targets announced last year.
Sony's PlayStation business, an asset that electronics rivals such as Apple and Samsung Electronics can't match, will play a key role in the company's ongoing turnaround, with the next-generation console, the PlayStation 4, due to go on sale in time for the year-end holiday season. Sony still expects games and consoles to generate ¥1 trillion (US$10 billion) in sales in the year through March 2015, or 12 percent of its total, but slashed its operating profit goal for the division from 8 percent to just 2 percent.