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Digital Life

With PlayStation network, Sony goes back to the future in search of revival

Published on Jul 29, 2014 6:23 AM
People walks on a floor advertising poster of Sony Corp's PlayStation 4 console at an electronics retail store in Tokyo on July 16, 2014. -- PHOTO: REUTERS

TOKYO (REUTERS) - Japan's Sony Corp is hammering out plans to rise from the ashes of nearly US$10 billion (S$12 billion) lost in six years by building a future around its last consumer electronics blockbuster - the PlayStation.

Sony plans to reposition the video console warhorse as a hub for a network of streamed services, according to three senior officials, offering social media, movies and music as well as games. The executives spoke to Reuters on condition they not be named because the matters are still in early stages of discussion.

The plans to coax more revenue from the PlayStation's network of users are being developed by a new breed of managers brought in by Chief Executive Kazuo Hirai.

Analysts say if Sony gets it right, the game and network business could earn about US$1 billion in the fiscal year from April 2016 - making it the most profitable part of the company bar a financial services unit.

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