more-arw search

Sony CFO: Company Not Planning to Restructure Television Business

Sony CFO: Company Not Planning to Restructure Television Business

Amid increasing speculation that Sony could look to make drastic changes to its television business after eight consecutive years of losses, the company's CFO said recently that no such changes were in the works.

In an interview with Reuters, Sony CFO Masaru Kato did say that concerns were growing over sales during the year-end holiday season.

"Looking at Europe and North America overall, the outlook is murky," Kato explained. "We don't see any reasons for optimism."

Kato added that while the company was not planning any major announcements about a restructuring of its television business, increasing profitability of the devices remains a major priority.

According to the news source, Sony is having difficulty competing with some of its Asian rivals in the television business including Samsung Electronics. For its part, Samsung beat its consensus forecast for the quarter lasting from July to September, Reuters reported.

The Wall Street Journal reported recently that Sony is in talks to purchase the half of Sony Ericsson that it does not already own as part of a deal worth up to $1.7 billion.