Sony
Loss-making Sony are looking to reverse their fortunes.Reuters

Sony is trimming down its television and mobile businesses and hope the PlayStation brand will remedy recent financial problems.

During an investor conference Hiroki Totoki, head of Sony's mobile division, said the aim was to cut costs in a move to turn a profit in the TV and smartphone sectors, rather than gain ground on rivals like Apple and Samsung.

"We're not aiming for size or market share but better profits," he said (via Reuters).

The PlayStation 4 has been a big success for Sony, enjoying fantastically strong sales in its first year, and clearly outpacing Microsoft's rival Xbox One. The success is a far cry from the launch of PS3, which suffered in the face of the Xbox 360 – which was first to market and easier to make games for.

Sony's three-year plan for its electronics divisions hopes to lift sales for its video game business by a quarter to an estimated 1.6 trillion yen (£8.7 billion) with help from forthcoming apps.

Video game streaming service PlayStation Now is the most interesting, but there is also the recently announced PlayStation Vue television service and PlayStation TV, which brings PS Vita games to television sets and allows you to stream PS4 titles to a different television not connected to the console.

Image sensors are another big hope for Sony, and the company hope sales will increase by as much as 70% to 1.5 trillion yen (£8.5bn) in three years. Sales of Sony's sensors are already in good shape thanks to their use in Apple iPhones and the devices of a number of Chinese handset manufacturers.

Last week at a similar event for its entertainment outlets, Sony revealed plans to lift movie and TV revenues by a third over three years.

Reuters also reported that Sony will not renew its sponsorship deal with Fifa.