Sony replaces president

Posted on 2 Apr 2008 by The Manufacturer

Sony has replaced its TV business president in a bid to improve operations which have been hit by the falling costs of flat-panel televisions.

The price of the televisions has fallen faster than Sony has been able to cut its operating costs, with the division losing 60 billion yen (£0.3 billion) in the six months to September.

The new president – Hiroshi Yoshioka – has replaced Takashi Fukuda, who has stepped down after just a year. The company said the move had been made as “part of a series of measures [it] is taking to try and strengthen [the] business.”