Sony Corp. President and CEO Kazuo Hirai is getting a vote of confidence from predecessor Howard Stringer in his effort to turn around the electronics maker.
The latest incarnation of the PlayStation and restructuring are helping fuel a comeback, Stringer told Bloomberg TV. Sony has said it expects net income of ¥140 billion this year after posting its sixth annual loss in seven years.
Hirai has quit unprofitable businesses and pruned costs at the smartphone and movie production divisions to focus on profitable products such as sensor chips used in Apple Inc.'s iPhone. The PlayStation 4 has sold almost twice as many units as Microsoft Corp.'s Xbox One, according to VGChartz, making it the most successful of the latest-generation consoles.