Sony Aims To Check Catastrophic TV Division

Sony LogoAccording to Sony senior executives, the company will begin to reconstruct and amend its dwindling television business. The company also said it will also consider teaming up with other firms. This came to light just days after the company cut its one-year net profit forecast.

The maker of Bravia televisions and PlayStation consoles, Sony is now in its eighth consecutive year of losses in its television business. It’s having to struggle against a growing line of Asian TV makers — like Samsung — who offer good products for less money. The company expects its challenges to worsen this year.

“The company will review anything from production and development to sales of finished products,” said a spokeswoman for Masaru Kato, the company’s chief financial officer. Kato said new plans will be put into place soon.

Sony has already sold off its TV factories in some parts of Europe and South America. The comapny’s outsourced much of its TV production to Foxconn.

Once considered Japan’s giant name in TV manufacturing, today Sony is seen as losing in the swatch of the consumer electronics wars, struggling to compete with hit devices from Apple and Samsung.

Source: Reuters