Lex专栏索尼“删除”PC业务.doc

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1、【精品文档】如有侵权，请联系网站删除，仅供学习与交流Lex专栏索尼“删除”PC业务.精品文档.Lex_Sony: hitting delete on VaioAt last. Sony has hit ctrl+alt+del. Its planned sale of its Vaio PC business is the first concrete sign in more than a decade that it is prepared to ditch the dross. More such reboots and it might recapture its long-lost

2、dynamism. Failing that, not losing more money from terrible businesses would be a start.终于，索尼(Sony)按下了“Ctrl+Alt+Del”重启键。出售旗下Vaio个人电脑业务的计划，是索尼10多年来准备摒弃亏损业务的首个明确标志。如果再多一些这样的“重启”，该公司也许会找回丧失已久的活力。即使做不到这一点，不再在糟糕的业务部门亏损更多，也将是个起点。The exact deal Sony agrees (it says is will inject 5 per cent of the capital

3、itself) is irrelevant when so much money has been lost already. The significance is that doing any kind of deal shows that Kazuo Hirai, chief executive, has the will and the political wherewithal to change Sonys culture. Sir Howard Stringer, his predecessor, did not and the group suffered. PCs for o

4、ne should have been ditched long ago. Sony, whose global share has not climbed far above 2 per cent in 10 years, reports computers in the same unit as its fast-improving smartphones. It is unlikely to have turned a profit on the business in a long time. Even Lenovo, world number one in PCs, only squ

5、eezes out a 4 per cent operating margin.索尼的交易细节（它声称自己将注资5%）并不重要，反正已经亏损了那么多。重要的是，无论做什么样的交易，都体现出其首席执行官平井一夫(Kazuo Hirai，见上图)拥有改变索尼文化的意愿和政治资本。他的前任霍华德斯金格(Howard Stringer)不具备这些，索尼集团因此遭殃。至少PC业务早就该舍弃了。10年来，索尼个人电脑在全球市场的份额一直徘徊在略高于2%的水平，但在它的业绩报告中，电脑业务和快速改观的智能手机业务被归入同一个业务部门。很久以来，个人电脑业务都不太可能盈利。就连全球最大个人电脑制造商联想(Le

6、novo)，也只勉强挤出4%的营业利润率。Sonys other big and welcome news, is that it will still own, but split out, its lossmaking TV business. There is a good case for it to ditch such a PC-like, commoditised, narrow-margin scale game. Still, hiving it into a separate company suggests that an eventual sale is possibl

7、e and, at least, that Sony will view it on a standalone basis. Hopefully it will report it that way, too, because sorting Sonys electronics gold from its dross has been near-impossible thus far. Bundling a lossmaker such as PCs in the same division as an apparent star such as Xperia smartphones epit

8、omises Sonys nasty habit of buoying dud units with profitable ones.索尼的另一大（可喜）消息是，它将继续拥有，但会剥离，亏损的电视机业务。该公司有很好的理由抛弃这种类似PC业务的、商品化的、低利润率的规模游戏。然而，将它拆分到一家独立的公司，意味着最终出售成为可能，而且至少索尼将单独审视这块业务。希望索尼也这样发布业绩，因为迄今几乎不可能把索尼电子业务的金子和糟粕区分开来。把PC这类亏损的业务跟Xperia智能手机这样的明星业务捆绑在同一个部门，体现了索尼用高利润业务撑托糟糕业务部门的坏习惯。After Dan Loeb, th

9、e US activist, picked on inefficiencies in Sonys film business last year, it sought cost savings. So it can listen to investors. The cultural shift needed to have dumped PCs is such that Sonys bad news of another full-year loss for once takes second place. It is not out of danger yet, but these changes make any further reboots worth listening to.继美国维权投资者丹勒布(Dan Loeb)去年批评索尼旗下的电影业务效率低下以来，它便寻求成本节约。所以它能够听取投资者意见。抛弃PC业务所需要的文化转变如此重要，以至于索尼又一次全年亏损的坏消息退居第二。索尼还没有脱离危险，但这些改变令未来任何有关“重启”的消息值得一听。