World Economy

Sony Needs Reforms

Sony Needs ReformsSony Needs Reforms

Struggling Sony warned it needs to carry out years of root and branch reform before it can turn around its battered smartphone arm. The Japanese consumer giant, fresh from revealing a 172b yen ($1.5b) operating loss in the mobile communication segment for the latest quarter, said painful changes lay ahead, AFP reported. “We must carry out structural reform before we can launch a new business,” said Hiroki Totoki, new head of Sony Mobile Communications Inc and a Sony  group executive. “Devices with communication functions have the potential to develop further,” he told market analysts and reporters in Tokyo.