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CEO: Sony Is Shifting to Recovery Mode

Thursday, June 21, 2007 4:16:17 AM
By HIROKO TABUCHI

 Howard Stringer, CEO of Japanese electronics and entertainment giant Sony Corp., right, poses with Chinese students during an event held in Beijing in this Oct. 30, 2006 file photo.  Stringer promised Thursday, June 21, 2007,  to shift the struggling electronics giant from recovery to growth and to boost PlayStation 3's games lineup, calling the console a key profit driver, despite its bungled rollout.  (AP Photo/Ng Han Guan, File)TOKYO (AP) - Sony Corp. Chairman Howard Stringer promised Thursday to shift the struggling electronics giant from recovery to growth and to make the PlayStation 3 a profit driver despite its bungled rollout. But investors at the company's annual shareholder meeting in Tokyo remained skeptical of an imminent turnaround, pressing Stringer for a clear strategy on how he intended to recoup losses at its video games unit and catch up to rivals like Apple Inc. in portable music players.

"We will shift Sony from recovery to profitable growth," Stringer told about 7,000 shareholders gathered in Tokyo, saying Sony's integrated and global approach to electronics, games and entertainment made it a "dominant company" in the digital age.

Stringer, the first non-Japanese to head Sony, played down his British-American dual citizenship and emphasized his commitment to reviving the Japanese company's international prowess.


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