Skip to main content

Market Overview

Sony Leans On Automation To Drive Digitization, Cut Costs: FT

Share:
Sony Leans On Automation To Drive Digitization, Cut Costs: FT
  • Sony Group Corp (NYSE: SONY) estimates the robots to take over its manufacturing lines of televisions, smartphones, and cameras as it shifts focus to services to drive sales, the Financial Times reports.
  • It aims to raise its operating margin from 7.2% to 10%.
  • The automation, along with a greater focus on online sales and data analysis, will help to reduce manufacturing costs and reduce defects.
  • The initiative is estimated to cut costs by 70% at Sony’s mainstay TV factory in Malaysia by FY23, compared with 2018. It also aims to employ robotics in smartphone and camera manufacturing in the future.
  • Sony will employ artificial intelligence to analyze sales data and set manufacturing volume.
  • It remains bullish on crystal LED displays for virtual video production and ball tracking technology for the sports entertainment industry. It also plans to target the entertainment space for cars.
  • Price action: SONY shares traded higher by 2.21% at $104.30 premarket on the last check Monday.
 

Related Articles (SONY)

View Comments and Join the Discussion!

Posted-In: Briefs Financial TimesNews Tech Media

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com