Last week, our top management announced a downward forecast revision for the year in light of the challenging global economy, the continued appreciation of the yen, tight credit and softer consumer confidence. In addition, a number of specific measures to enhance our global competitiveness were spelled-out. So clearly, there will be some belt-tightening in the months ahead.
That said, the company’s commitment to success and innovation reigns supreme. Even in the face of difficult challenges, my colleagues and I are excited about the accolades surrounding the recent debut of VAIO P series lifestyle PC and the Wi-Fi Cyber-shot G3 camera, as well as the BRAVIA television “four-pack,” including the Eco-BRAVIA, super thin BRAVIA, networked BRAVIA and 240Hz Motionflow BRAVIA HDTV sets. There’s also a lot of buzz building with respect to the progress in developing Flex-OLED technology, dye-sensitized solar cells, a remarkable sugar-based battery, and dual-image glasses that let you watch video on-the-go while keeping an eye on what’s happening around you.
Progress also continues here at Sony with respect to new Blu-ray Disc technology developments; 4K video in cinema applications; and 3D for animation, sports, games and movies for eventual viewing right in your home. And we’re all looking forward to the further evolution of PlayStation Network, adding more and more value to Sony’s consumer electronics devices.
During his recent keynote at CES, our Chief Executive Sir Howard Stringer outlined seven imperatives not only for Sony but the entire CE industry:
1. Embrace the fusion of industries so IT, CE and content interact seamlessly.
2. Adopt a service-enhanced philosophy; otherwise obsolescence threatens.
3. Products must be multi-functional and interconnected.
4. Technologies must be open so customers have choice.
5. Advance the new shared experience like social networks that are so good at it. (As an example, this is already being done in connection with the PS3 entertainment system.)
6. Create whole new value chains.
7. Go Green. The world is demanding a smaller carbon footprint.
While several initiatives are well underway, these imperatives offer insight into what Sony is focusing on as we head into the future, even as the company moves quickly to adjust to the realities of the current economic environment.