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Sony CEO: Not thinking of selling or shutting TV business

22
May
2014

By Reiji Murai and Sophie Knight TOKYO (Reuters) – Sony Corp could take on an equity partner in its TV unit, which has racked up losses every year for a decade, but the Japanese consumer giant was not thinking about selling or exiting the business, its chief executive said on Thursday. Sony plans to turn its struggling TV business into a separate entity – Sony Visual Products Inc – within a few months to boost transparency. The splitting off of its TV unit had fired up speculation about a sale, which CEO Kazuo Hirai sought to dispel. I wouldnt rule out the possibility of an equity tie-up, but right now we are not doing business under the assumption that would happen. Hirai, speaking on Thursday at a briefing outlining Sonys annual strategy, acknowledged TV sales could fall below the companys forecast for an industry-beating 20 percent rise this fiscal year.

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