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Sony gets real on restructuring, pockets of denial persist

21
May
2014

By Reiji Murai and Sophie Knight TOKYO (Reuters) – Sony Corp may finally be serious about restructuring, setting aside up to $1 billion this fiscal year to cut staff, but the hard-nosed figures in its latest results still include noticeably rosy forecasts. Sony missed the forecasts it set for its TV and smartphone divisions last year as it struggled to compete with more nimble rivals. When they forecast profit in each product category, it worries me, said Atul Goyal, an analyst at Jefferies in Singapore, adding it was possible that Sonys smartphone and TV sales might actually fall by 20 to 30 percent instead. There are many things happening on the competition side in the product categories in these mature markets. Sony, like compatriot rival Panasonic Corp, could end up shrinking in key consumer markets – a strategy once unthinkable for a brand synonymous around the world with consumer electronics.

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