Sony wants cash to get out of tellies, into mobile, CMOS and games
Hands out magic beans that grow into share-stalks in 2017
Sony has announced it will issue five-year convertible bonds, which will change into stock in 2017, to raise ¥150bn (£1.18bn, $1.89bn) for acquisitions and investments.
A third of the cash will go into snapping up that stake in Olympus, announced in September, and another ¥10bn (£79m, $125m) will go towards the acquisition of US cloud gaming firm Gaikai.
The Japanese firm is also planning to sink ¥60bn (£472m, $750m) into its semiconductor business to ramp up production of CMOS image sensors. The rest of the readies will go towards paying off debts due to mature in March next year.
Sony is trying to shift its focus somewhat off its loss-making TV business and into its other core businesses of gaming, digital imaging and of course mobile hardware. The firm is also looking into new possibilities for revenue like medical equipment through its shareholding in Olympus. ®
Very good tubes, but their LCDs are great as well, but expensive
Used to love the old Super Trinitron Wide. RIP
Hmm...an incredible hardware manufacturer (witness Jony Ives' admiration with a mock mock-up of an imagined Sony phone during the creation process for the iPhone) let down by a) crap software and poor implementation (my X1060 Walkman had incredible, beautiful hardware but the software, while serviceable was just weird in places...having to type http:// at the start of every address in the browser...eh?) and b) the ever litigating media arm of Sony/Columbia whatever it's called. They are the main reason Sony never competed properly with the iPod and went from dominating personal music players and home media to being a fringe alternative, all driven by their stupid DRM and the fear of users copying their music. (thankfully the aforementioned X1060 was drag and drop, but by then it was too late).
And now they are flogging their TV arm. At least the company is getting smaller, being massive with more bureaucracy than Whitehall is probably one of the reasons they are fucked.