2011 – A very hard year for Sony

2011 – A very hard year for Sony

Industries all across the globe has suffered massively after the financial crunch and severe recession since the great financial breakdown in 2007. Closure of major firms like Lever Brothers and major baking collapses has forced the companies to cut down
on their revenue and decrease the cost in order to still stay in the competition. Sony is not an exception and has faced yet another tough year in 2011.

Andrew House, executive director of Sony Computer Entertainment, said in an interview with the Guardian newspaper that 2011 has been a "tough year" for the company, but now stands more united than ever. House cites the Japanese earthquake and tsunami, and
the case of the PlayStation Network intrusion events as more damaging to Sony: "Yeah, it’s been a tough year, no doubt. If we look for something positive, I think it was the unit face of adversity … I think it has had the effect of uniting the company. "

For the PlayStation business was the subject of hacking. Now it’s is a very strong company and there are many institutions and companies experiencing the same types of threats. Still Sony joined; they hired a chief information security that was extremely
experienced. It is important for the employee in Japan to be a moral impulse with a large release of PS-Vita-in the West.

From the perspective of SCE, It highly depends on the success of PS Vita. Now there is a base of 55 million PlayStation 3 units worldwide, and for every console, people buy more games than in previous generations, and that has a direct impact on profitability.
Sony has started seeing the benefits and has the freedom to see the future and new investment in business models. 2012 seems much more positive year according to the executive director and he hopes that the low turnover this year will be recovered in the New
Year with some breathtaking releases.

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Posted by Fahad Zafar on Jan 9 2012. Filed under Entertainment. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry