Kazuo Hirai, charged with halting Sony Corp. (6758)'s downward spiral, could be excused for asking: Do I really want this job?
Last week, the consumer-electronics giant said it expects a $2.9 billion loss in the year ending March 31, putting it on course for an unprecedented fourth consecutive year in the red. It's a stunning reminder of the depths to which the onetime pride of Japan Inc. has plunged in the Apple Inc. age.
Thirty-three years after unleashing the Walkman revolution, Sony is playing catch-up to the upheaval wrought by Steve Jobs's iPod, iPhone and iPad. When Hirai, 51, takes control in April, he must succeed where Chief Executive Officer Howard Stringer, 69, failed. To restore Sony to anything approaching its past glory, Hirai needs a new offering of products that consumers view as game changers. (Bloomberg)
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