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Sony Reiterates Financial Importance Of PlayStation In New Three-Year Plan
Sony has released a new three-year management plan that identifies the company’s strengths, challenges, and key divisions for financial health. The company has stated before that the growth of the gaming division following the success of the PlayStation 4 was crucial, and reiterates that today.
In addition to gaming, Sony is pinning its hopes on professional devices (like image sensors), film, and music. The company states that it plans to grow the PlayStation 4 and PlayStation Network install bases. 19.9 million PlayStation 4 units have been shipped worldwide as of December 31, 2014.
The plan culminates with a return to profit by the year ending March 31, 2018. The company targets consolidated operating profit of ¥500 billion ($4.2 billion) in that year.
Sony has been having a string of fiscal problems, with expected losses this year totaling ¥170 billion ($1.45 billion). This follows last fiscal year, which ended with losses totaling ¥128.4 billion ($1.08 billion).
[Source: Sony]
Our Take
Sony is an enormous company and it has its hands in many different areas. Unfortunately, the failure of its PC business and its immense struggles in mobile have hurt it significantly.
Gaming is a large industry, but as a piece of Sony’s entire business, it can only ever be part of the plan for success. Sony needs to continue to focus on entertainment (where it’s successful) and devices, while pulling back on those areas that are becoming cost competitive.
In addition to mobile, Sony sees the market for televisions becoming commoditized. For a company that creates high-end goods that sit at the top of the price range, this spells trouble. Focusing on areas in which it can perform well and with fewer serious competitors makes sense.
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