Sony Leans On Automation To Drive Digitization, Cut Costs: FT - Sony Group (NYSE:SONY)

Sony Group Corp SONY estimates the robots to take over its manufacturing lines of televisions, smartphones, and cameras as it shifts focus to services to drive sales, the Financial Times reports.
It aims to raise its operating margin from 7.2% to 10%.
The automation, along with a greater focus on online sales and data analysis, will help to reduce manufacturing costs and reduce defects.
The initiative is estimated to cut costs by 70% at Sony’s mainstay TV factory in Malaysia by FY23, compared with 2018. It also aims to employ robotics in smartphone and camera manufacturing in the future.
Sony will employ artificial intelligence to analyze sales data and set manufacturing volume.
It remains bullish on crystal LED displays for virtual video production and ball tracking technology for the sports entertainment industry. It also plans to target the entertainment space for cars.
Price action: SONY shares traded higher by 2.21% at $104.30 premarket on the last check Monday.