Sony's new CEO announces a turnaround strategy, will develop and commercialize OLED TVs

Sony's new CEO, Kaz Hirai, is now in office, and he announced a new strategy that will hopefully turn around the company. The "One Sony" initiative, which includes a headcount reduction (of 10,000 employees), will cost almost a billion dollars in 2012. The company will focus on digital imaging, gaming and mobile.

Sony XEL-1 OLED TVSony XEL-1

Regarding Sony's TV business, they will continue to streamline the product line and reduce costs in an attempt to return to profitability by 2014. Sony intends to "advance the development and commercialization of next-generation display technologies such as OLED and Crystal LED Display". This isn't news as Sony already announced they plan "major investments in OLED TVs' back in February 2012, but it's good to see Sony's OLED TVs are still on track.

Posted: Apr 12,2012 by Ron Mertens