Yuriko Nakao / REUTERS
Sony's new President and Chief Executive Officer Kazuo Hirai at a news conference at the company headquarters in Tokyo.
By msnbc.com staff
Sony?s new CEO Kazuo Hirai sketched out a strategy to revive the technology giant?s fortunes Thursday, including a big push into the smartphone business, growth in games and digital imaging, and big cost cuts in a TV business that has not made a profit in eight years.
Sony?s strategic shift also included news of planned layoffs, which had been widely reported earlier this week. The Japanese company said it will cut 10,000 jobs, or about 6 percent of its global workforce.
Hirai, in his first public briefing since taking up the CEO position, also said the electronics retailer will expand its business in emerging markets and medical equipment. He also set a target for group sales of 8.5 trillion yen ($105 billion) in two years, with an operating margin of more than 5 percent. Earlier this week Sony said its loss for the latest fiscal year would be its worst ever -- $6.4 billion.
Hirai took over from Howard Stringer this month, and he is under pressure to turn around an ailing consumer electronics giant weakened by losses in its TV unit and by fierce competition from consumer technology rivals Apple and Samsung Electronics.
?I am determined to transform and revive Sony. This is our only chance to change,? Hirai told a news conference at Sony?s Tokyo headquarters.
Reuters contributed to this report.
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