Sony Corp Reveals Unified Sony Online Service News

Sitting on top of a variety of movie and music labels, Sony Corp should be in the strongest position to deliver the all-encompassing media hub that virtually every company in the sector is striving to create.

For decades, Sony has attempted to unify its diverse range of hardware manufacturers and content companies, bringing the material created by the likes of Colombia Pictures and Epic Records to products that it creates.  However a long history of corporate infighting and a lack of insight have thwarted such plans in the past.

But now it seems the company sees such a strategy as the means to bring it back into profitability, with the electronics giant confirming plans to create such a unified online service.

Tentatively titled the Sony Online Service (catchy), the online platform is expected to provide music, movies, books and downloadable applications for Sony products.

Analysts expect the service to bear a similarity to Apple's iTunes platform with the ability to upload user created content.  Although Sony has refused to mention any specifics surrounding what it will look like or when it will launch, it's widely expected that the service will be modelled and use the experience of Sony's PlayStation Network.

During the conference, Howard Stringer Sony Chairman and CEO, revealed that he doesn't expect either the gaming or TV business to see a profit until the next fiscal year and that the gaming division is likely to post its fourth straight operating loss.

"We know we have to restore profit in our game and TV business," Stringer told a news conference at Sony's headquarters. "We must deliver sustainable financial results."

Source: BusinessWeek