After a year it would rather forget, has Sony finally turned the corner?
After struggling to make a profit over the past couple of years, Japanese vendor Sony looks like it might have turned the corner with a quarterly profit of US$861 million.
While the overall profit for the year will still be down, it is a vast improvement on what the same time last year – in fact, over 700 percent more.
Sony boss Sir Howard Stringer has been promising for some time that the CE giant would make progress and it seems he is finally about to see some light at the end of the tunnel. Revenues from movies, financial services and PCs have been leading the way, including the release of 2012 and Michael Jackson’s This Is It.
Add to that Stringer making a number of decisions to close factories and to try and create efficiencies in the massive leviathan that is Sony, it looks like 2010 might be the year it makes a profit.