CEO says Sony is on track for comeback

UPDATED 3:47 AM EST, January 17, 2013

TOKYO (AP) — Sony Corp., the struggling Japanese electronics and entertainment company, is headed in the right direction although its comeback is not yet complete, its chief executive said Thursday.

Kazuo Hirai told reporters that Sony is now more nimble and focused under his leadership which began nine months ago. Sony has lost money for the past four years, and has fallen behind powerful rivals such as Apple Inc. and Samsung Electronics Co. in profitability and innovation.

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