Sony Narrows Focus On R&D

Yahoo: At a press conference today in Tokyo, Sony's new president Ryoji Chubachi said that the struggling electronics company  will narrow the focus of its R&D to "only promising areas" such as next-generation video equipment, mobile phones and flat panel TVs. He also said that Sony would continue restructuring its sprawling operations while cultivating new businesses to drive earnings growth...No specific details yet on how they're going to do this (hopefully without cutting too many jobs) but R&D spending is expected to total 520 billion yen ($4.8 billion) this business year...