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Sony to Halve TV Losses in 2011-12

CNBC.com
Tuesday, 31 May 2011 | 7:41 PM ET

Sony will look to reduce operating losses in its television business by at least half in the current fiscal year through March 2012, Chief Financial Officer Masaru Kato said in an interview with the Nikkei business daily.

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Photo by: William Hook
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Commenting on last year's 75 billion yen ($926.4 million)operating loss in the company's TV business, Kato said LCD panel costs were the biggest factor.

The company procured lower number of large panels than planned in the first half, while remaining unable to take advantage of a fall in panel prices in the second half, the business paper said.

When asked about Sony's plans to spend 14 billion yen to deal with cyber attacks, Kato said such threats were serious, the daily reported.

Kato said the company will boost capital investment by about 60 percent this year to 330 billion yen to increase output of semiconductors and for other purposes, the newspaper reported.

He added Sony will also consider mergers and acquisitions, as well as taking stakes to form partnerships, Nikkei said.

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