Sony Holds on to TV Business Despite Financial Losses

Sony logoIt has been a tough year for Sony. After dealing with a string of cyber attacks on almost every sector of its business, it is now looking at disappointing television sales sales that are likely to continue declining through the rest of the year.

Just last week, Sony cut its annual TV sales forecast and also mentioned that its losses on TV's could "widen" this year. In addition, this is Sony's eighth straight year of losses in the TV business.

Over the past few years, the electronics corporation has sold off some of its TV factories in Mexico, Slovakia and Spain, yet continues to keep TV factories in Brazil, China, Japan and Malaysia.

Despite a poor annual sales outlook and the loss of factories, Sony refuses to get rid of its TV business.

"Televisions are a core business for Sony and it would be unthinkable for us to shrink that business," said Kazuo Hirai, executive deputy president of Sony.

A TV panel partnership with Samsung has become a potential option for Sony as well, but at the moment, it doesn't seem entirely interested or disinterested.

"We are absolutely not thinking of abolishing the joint venture, and it's not something that would be easy to do," said Hirai.

Sony's TV business suffers due to increased competition among other low-cost Asian rivals as well as competition with newer technology like tablets and smartphones.

In addition to a poor TV outlook, Reuters mentioned that Sony could also find disappointing results from its PlayStation Vita since Nintendo had to slash the price of its 3DS only four months after releasing it. To be fair, the 3DS didn't fail because people just aren't into portable gaming anymore -- it was because Nintendo had a poor initial game lineup.

Tags: Sony, TVs

Comments
Add comment

Your name:
Sign in with:
or
Your comment:


Enter code:

E-mail (not required)
E-mail will not be disclosed to the third party


Last news

 
The new mobile payment app offers simple checkout proces
 
It is also rumored to feature a larger 4.2-inch display
 
Will warn users when background apps access the camera
 
Windows Phone 8.1 and 10 users have been spared for now
 
The drive also includes a hefty 40GB of DDR4
 
The bug also affects Safari and the built-in Messages app on macOS and the Apple Watch
 
Now is a good time to check out other keyboards that the Android and iOS app stores have to offer
 
Old installer pulled, new version pointing to the Store
The Samsung Galaxy A5 (2017) Review
The evolution of the successful smartphone, now with a waterproof body and USB Type-C
February 7, 2017 /
Samsung Galaxy TabPro S - a tablet with the Windows-keyboard
The first Windows-tablet with the 12-inch display Super AMOLED
June 7, 2016 /
Keyboards for iOS
Ten iOS keyboards review
July 18, 2015 /
Samsung E1200 Mobile Phone Review
A cheap phone with a good screen
March 8, 2015 / 4
Creative Sound Blaster Z sound card review
Good sound for those who are not satisfied with the onboard solution
September 25, 2014 / 2
Samsung Galaxy Gear: Smartwatch at High Price
The first smartwatch from Samsung - almost a smartphone with a small body
December 19, 2013 /
 
 

News Archive

 
 
SuMoTuWeThFrSa
    123
45678910
11121314151617
18192021222324
25262728   




Poll

Do you use microSD card with your phone?
or leave your own version in comments (6)