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

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.

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