Sony Corporation is a Japanese multinational conglomerate corporation with its’ headquarters located in Japan. It was founded in 1946 as a manufacturer of consumer electronics and has engaged into other businesses such as motion pictures, music, and financial services making it one of the most comprehensive entertainment and media group in the world. Sony’s vision is “to create new digital entertainment experiences for consumers by bringing together cutting-edge products with latest generation content and services.” Sony was once the epitome of Japanese innovation and technological prowess. Sony is the revolutionized the modern world with products such as the Walkman, Trinitron T.V., and the Playstation. However, due to years of competition from foreign rivals such as Korea’s Samsung and LG and domestic competition from Sharp and Panasonic, Sony has fell off as the electronic giant. There used to be a huge gap in television sets between the best of the bunch but now due to technological innovations, companies are able to produce quality television sets at a cheaper price. Sony no longer has the competition advantage over their competition because consumers are unable to tell the difference between a Sony screen and a Samsung screen. During the last decade, Sony has lost $10 billion from their television division. Sony also has direction competition in their music and video game divisions with companies such as Apple and Microsoft and Nintendo. A decade ago, Sony’s stock was as high as $100-120 dollars but now it is selling at around $10 dollars. Sony has lost $5.7 billion during the fiscal year that ended March 2012 which is their worst ever. A lot of this can be blamed to misfortune as Japan was recently hit with natural disasters such as the tsunami and earthquake. Sony has many lost opportunities and was unwilling or unable to adapt to the global marketplace. Sony failed to innovate during a time of digitalization, software, and the...
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