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Sony’s turnaround plan includes big cuts

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1 year ago

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http://www.euronews.com/ Less than two weeks into the job, Sony’s new boss Kazuo Hirai has revealed his strategy to revive the fortunes of the ailing consumer electronics giant.

At a briefing for journalists he said there will be a major push into smartphones, growth in games and cameras and he confirmed media reports that there will be 10,000 job cuts, that is six percent of its total workforce.

Hirai said: “For Sony’s revival and growth process, there will be painful choices and decisions that must be made, and we will be faced with executing these decisions. But without these, we will not be able to change Sony.”

The turn around plan includes big cost cuts in Sony’s TV business which has not made a profit in eight years. Hirai aims to cut fixed costs by 60 percent and operating costs by 30 percent over two years. Sony will offer fewer models.

It is also hoping for an alliance with other TV manufacturers to develop and built the next generation of flat screens.

Sony and Japan’s two other major TV makers, Sharp and Panasonic, have been battered by weak demand, fierce competition and a profit-sapping strong yen that threatens the viability of Japan’s once-mighty television industry.

Hirai, who previously revived the PlayStation video gaming unit, said he wanted to make Sony a leading player in mobile phones, which would be a “hub device” for the mobile business. He aims to treble revenue to over the next three business years.

Sony will also look to increase sales of cameras and other digital imaging devices by a third and raise revenue at the games division by around a fifth over three years.

Hirai’s plans did not impress investors. “I can’t make out a growth story here. It’s good they’ve announced numerical targets, but you can’t tell how they’re going to achieve them,” said Kikuchi Makoto, CEO of Myojo Asset Management.

“It doesn’t feel like an aggressive makeover,” said Tetsuro Ii, president of Commons Asset Management.

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Functional fashion for wheelchair users: the social enterprise doing good business

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10 hours ago

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July 29, 2026

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Business Planet heads to Slovenia to see why one startup is not only out to make money it is also on a mission to make a difference.

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‘Masterpieces of Chinese Painting’ opens in London – le mag

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11 hours ago

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July 29, 2026

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Rare Chinese artefacts, dating as far back as 1,200 years, are going on display at the Victoria and…

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http://www.euronews.com/2013/10/30/masterpieces-of-chinese-painting-opens-in-london
Rare Chinese artefacts, dating as far back as 1,200 years, are going on display at the Victoria and Albert Museum in London.

The exhibition presents over 70 of the finest examples of Chinese painting, some of which have never been exhibited in the UK before.

It begins with paintings from the Tang Dynasty and includes ‘The Nine Dragons’ hand scroll that captures the world of the mythical fire-breathing monster.

Outlining the developing styles of painting over a 1,200-year period, the exhibition also includes figure paintings on silk for religious sites and landscape painting.

The exhibition is divided into three parts: the very early period, when most of the art was concerned with deities and the symbolism of costume; the middle period, which focussed on nature; and the 19th century, when people’s faces became important in portraits.

Senior curator at the Victoria and Albert, Hongxing Zhang gave an insight into the development of Chinese art:

“In Chinese painting there is a genre we could describe as similar to genre paintings in European history. (It) really started in the 12th century, but became very popular and one of the dominant, major genres of painting in the 15th and 16th centuries. But, the highest achievement of the genre painting was the court art in the 18th century.”

According to the Chinese, painting is a supreme art – something that is in clear evidence throughout the exhibition.

This is the biggest exhibition of Chinese art in the UK since a Royal Academy exhibition in the 1930s. These masterpieces shed some light on China’s past and help understand Chinese society today.

Zhang also spoke of the importance of the exhibition in understanding China and he Chinese:

“China is increasingly exposed in the west for many, many reasons: the economy is a very major one. And so, in order to do business and to have a dialogue with Chinese people we need to know about China and know about really, the stories behind a contemporary China.”

Chinese life is represented in miniature throughout the exhibition; from streets teaming with merchants, to a fishing village and boats on the shore at the edge of the town.

It took years to complete and contains over 4,600 figures and 400 boats.

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France says goodbye to iconic New Wave actor Jean-Paul Belmondo in national tribute

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6 days ago

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July 23, 2026

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A national farewell was given to Bébel on Friday with the Hotel des Invalides in Paris turned into an open-air cinema for the occasion.

READ MORE : https://www.euronews.com/2021/09/10/france-says-goodbye-to-iconic-new-wave-actor-jean-paul-belmondo-in-national-tribute

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Plastic ocean: How scientists detect and study marine microplastics | Euronews Tech Talks

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1 week ago

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July 22, 2026

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What impact do microplastics have on marine species? How can scientists identify marine microplastics? And why should we care?

Euronews Tech Talks travelled to the Flanders Marine Institute in Ostend, on the Belgian coast, to answer these and more questions with researchers Ana Catarino, Nelle Meyers and Juliette Grandjean.

Read more: https://www.euronews.com/programs/euronews-tech-talks

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Inside the science of detecting marine microplastics | Euronews Tech Talks

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July 22, 2026

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Identifying microplastics in the ocean can be challenging due to their small size and irregular shape. But there are technologies that help overcome these difficulties.

Nelle Meyers, a post-doctoral researcher at the Flanders Marine Institute (VLIZ), explains her semi-automated method to Euronews Tech Talks.

Read and find out more here: https://www.euronews.com/programs/euronews-tech-talks

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