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Sony looks to the PlayStation for its profits

220px PS4 Console wDS4
220px PS4 Console wDS4

Sony has held a conference for its investors where it declared an intention to focus on the PlayStation brand and cut back on TVs and phones in hopes of improving profits.

The conference, which was reported on by Reuters, saw Sony reveal a three-year plan that centres on its hoped large revenues from the PlayStation 4 as well as its image sensor business.

Apparently, the Tokyo-based company is still hoping that its waning TV and smartphone arms will turn a profit, but if they do it’ll be despite an expected sales slide of 30%.

The PS4 is where Sony believes the real cash will come from. It’s sold 13.5m units as of September 30, and the company’s hoping to boost the sales of its gaming wing by a quarter to ¥1.6tn (£8.6 bn). It plans to do it through personalised TV and music distribution services, increasing revenue per paying user. The increasing popularity of its PlayStation Plus subscription service should help here, too.

Sony has undergone sweeping changes since Sony Computer Entertainment boss Kaz Hirai became President and CEO of the whole company in 2012. It’s suffered big losses in recent years, and recently quadrupled its estimate on how much it expects to lose in this financial year, a dip blamed on the Xperia smartphone branch. This week’s conference appears to have appeased its investors, with shares in Sony ending 6% higher at the close of Tuesday.