Sony Corp cut its sales targets for digital cameras, smartphones and tablets by 13-17 percent for the year to end-March 2015, but said there were "encouraging" signs of a revival in its electronics business, SIA reports citing foreign mass media.
CEO Kazuo Hirai told a press briefing on Wednesday that Sony would assess a proposal from its biggest shareholder, billionaire Daniel Loeb's Third Point LLC hedge fund, that the group should sell up to a fifth of its music and movies business, which includes artists such as Adele and hit franchises like "Spider-Man".
Loeb argues a partial spin-off of Sony Entertainment would free up cash to help the struggling electronics division and could boost Sony's stock price by 60 percent.
Third Point's "proposal is one that affects a core part of Sony's business and the direction of our management, so the Sony board will give it thorough consideration before replying to Mr. Loeb," Hirai said.
Sony has relied on entertainment and insurance profits to offset losses from TVs and other consumer devices.
Sony shares charged to their highest in more than 2 years on Wednesday after the Nikkei newspaper said Sony's board would consider evaluating Loeb's proposal. The stock closed up 5.9 percent at 2,290 yen.
Sony trimmed its 2014-15 camera sales target to 1.3 trillion yen ($12.7 billion) and now expects smartphone and tablet sales of 1.5 trillion yen.
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