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With PlayStation network, Sony goes back to the future in search of revival

29
Jul
2014

By Reiji Murai TOKYO (Reuters) – Japans Sony Corp is hammering out plans to rise from the ashes of nearly $10 billion lost in six years by building a future around its last consumer electronics blockbuster – the PlayStation. Sony plans to reposition the video console warhorse as a hub for a network of streamed services, according to three senior officials, offering social media, movies and music as well as games. The plans to coax more revenue from the PlayStations network of users are being developed by a new breed of managers brought in by Chief Executive Kazuo Hirai. Analysts say if Sony gets it right, the game and network business could earn about $1 billion in the fiscal year from April 2016 – making it the most profitable part of the company bar a financial services unit.

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