Sony has set its sights on a $4.2 billion operating profit by 2018. Over the next three years, Sony has plans to change many operations in order to get out of its slump and reach that financial goal. A lengthy turnaround plan has been introduced by Sony CEO Kazuo Hirai that includes spinning off its video-and-sound business.
By October of this year, Sony has plans to create a new company which will house its video-and-sound division. Doing so will let the company boost its operating profit since it will have less direct baggage. A broader focus for the company is to cut costs and boost profitability without necessarily increasing sales.
Hirai has outlined some areas where Sony could pull additional money from between now and 2018. Those areas are things like image sensors for self-parking cars, TV programming, and games for the PlayStation side of Sony.
Along with spinning off the video-and-sound business, Sony may make some of its other divisions independent over the next three years, but Hirai has not specifically mentioned any other deals.
Sony Pictures’ recent hack isn’t expected to do long-term damage to Sony. In fact, the film side of the company may be one of the biggest areas of growth in the coming years.