“We will be able to carry out more flexible management,”
Sony said the company name will become
Sony technology is likely to prove useful in future financial services, such as the fintech area, it said, providing “synergies.” It will also enhance profitability, it said.
That term, used by Sony for years, refers to how various parts of its sprawling operations can work together for overall gain.
That strategy of diversification is helping it as certain parts of Sony's business struggle while others, such as products related to health care and public safety, perform well during the crisis.
The coronavirus crisis has delayed Sony music and movie releases and disrupted its product supply chains.
Last week, Sony announced its profit crashed 86% in January-March from a year earlier to
The outbreak has crimped consumer spending, shut movie theatres, cancelled events and sent share prices falling — all damaging for Sony. Consumer demand declined, especially in regions where lockdowns closed retailers. Shutdowns of factories in
He said Sony’s strengths remain unchanged, in bringing people together and moving people emotionally, while coming up with devices like its hit CMOS sensor for images in smartphones.
“People’s values are going to change. Everyone in the world is now thinking about what is truly precious to us?” he said. “And that means we continue to grow close to people.”
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