CEO says Sony's bottom line is moving in 'right direction'

BRIEFS:Sony earnings are "moving in the right direction" as Japan's biggest exporter of consumer electronics accelerates a plan to turn around its unprofitable TV business, CEO Kazuo Hirai said yesterday. It is also "mindful of our cash position" as it makes deals, such as its agreement last month to invest 50 billion yen in Olympus, he said.

The Tokyo-based company is selling businesses, including a chemical products division for 57.2 billion yen, to generate cash, he said. Hirai is reorganising Sony’s holdings to recover from four straight annual losses because of slumping demand for TVs, a strong yen and competition from Samsung Electronics and LG Electronics.

The CEO vowed to stay in the TV business and promoted an 84-inch Bravia set that will start selling in Japan next month for about $21,500. “We’re certainly committed to the TV business,” Hirai said. “Sony has a very deep DNA in creating the best picture and the best sound.”

The new TV uses 4K technology that Sony says displays higher-resolution images than conventional high-definition models. Sony sees growing demand for larger sets in developed markets, and better picture quality will help lure buyers, said Masashi Imamura, a senior vice president in charge of Sony’s home entertainment products.

Panasonic and Sharp, which also are losing money in TVs, used the CEATEC technology exhibition in Tokyo this week to showcase their profitable home appliances, including network-connected refrigerators.

Sony sold its stake in a liquid-crystal-display venture with Sharp in June after it turned to Taiwan’s Foxconn Technology Group for a capital alliance that included the sale of a stake in the venture. Sony ended a similar panel venture with Samsung last year. Hirai said the sale of that stake will save 50 billion yen. In June, Sony agreed to develop TVs with Panasonic using organic light-emitting diode panels screens. - (Bloomberg)

Streaming service to pay artists for new subscribers

Rdio Inc, a music streaming service started by billionaire Skype co-founder Janus Friis, is offering recording artists $10 for each new subscriber they attract.

Snoop Lion, formerly Snoop Dogg, the Scissor Sisters, A-Trak, Chromeo and Brendan Benson are among the first artists joining the Rdio Artist Programme. Rdio is forging alliances with recording artists to gain an edge on Spotify and other bigger music-streaming competitors. Artists’ recommendations on Rdio will appear on Twitter and Facebook, giving the service a wider audience.

The programme, active in the 14 countries where Rdio operates, augments existing licensing deals with labels and distributors for access to music.

“There is no art without artists,” Friis said. “We know a business that doesn’t reward its most important contributors is a business that has to change. The innovation of the internet should not be a barrier to the success of music artists, it should allow them to be even more successful.”

Rdio competes with Spotify and Rhapsody International in offering subscriptions for unlimited music streaming. It offers a limited free service and monthly subscriptions.

Eircom initiative to boost online presence of SMEs

Eircom has unveiled a new programme aimed at helping small and medium-sized businesses to get the most out of their online presence.

The Digital Boost initiative offers advice and tips for small companies about how to get online, what they should do to maximise their online presence, and how to protect their business. “No matter what line of business or industry you’re in, a strong digital presence is an essential ingredient for any small and medium-sized business,” said Gary Disley, head of small and medium business.

“We know from speaking to our own customers that many SMEs do not have a website and we hope that the practical advice available through Digital Boost will help them get started. For those who do have a website, many are not making the most of it in terms of driving sales and communicating with their own customers.”

Those who register at eircom.net/digitalboostwill be entered in monthly competitions to win a strategy day with digital and marketing experts, a free telecoms package for a year worth €2,500 and for those with no website, a free domain name.