Sony is spinning off its audio and video business to return to profitability
Feb18
Just over a year ago, Sony announced it would be spinning its TV and PC businesses as it looked to restructure itself and mitigate losses. Today, the company is shedding some more weight: its audio and video business will become a wholly owned subsidiary. By separating the company into different units, Sony believes each subsidiary can focus on its own profits, while the parent company grows its strongest sections: movies, music, video games and image sensors. Sony believes the movie could help the company achieve an operating profit of $4.2 billion in three years, countering years of losses. CEO Kaz Hirai suggested…
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