Sony Corp. said on Monday it will post a narrower than forecast annual loss and a surprise operating profit, helped by cost cuts, milder than expected price falls and improving conditions at its main electronics division.
To lower operating expenses and reduce earnings risk during a market downturn, the Japanese electronics conglomerate has been selling TV factories and increasingly turning to contract manufacturers for production. It has also reduced the number of its suppliers and overhauled its supply chain.
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(Source: The Wall Street Journal Online)