• Kyodo News

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Sony Corp. aims to turn a profit on its TV business by cutting costs and introducing products with advanced features, Sony Vice President Hiroshi Yoshioka said Thursday.

Yoshioka, 56, who is in charge of Sony’s money-losing TV business, revealed the plan in a joint interview with media organizations.

Sony plans to ship TV sets incorporating regional needs in emerging economies, including India, as a way to boost TV sales, he said, adding Sony will “introduce high-value-added products, such as better picture quality, rather than lower-priced products.”

As for cost-cutting, he said Sony plans to promote in-house, lump-sum purchases in procuring materials, while standardizing parts and basic designs of products.

On workforce reduction, the electronics giants will go ahead with a plan to slash about 16,000 jobs around the world as already announced, Yoshioka said.

As for possible additional restructuring plans, he said only that Sony will adapt to changes in the market.

As global sales of liquid crystal display TVs for fiscal 2009 are projected to fall from the previous year to around 15 million units, he said: “We will face a severe environment for sales. Sony would be unable to compete with foreign manufacturers in cutting prices due to the yen’s appreciation.”

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