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According to Jonathan Soble of the Financial Times, Sony has warned that its television business will probably lose money again this year, in spite of surging sales volume and the introduction of premium features such as 3D and Internet connectivity. The Japanese consumer electronics group’s failure to turn a profit on what had long been one of its best-known products highlights its loss of manufacturing competitiveness to South Korean and Taiwanese rivals.
Under Sir Howard Stringer, Chief Executive, Sony has closed four of its eight TV factories and out-sourced production to lower-cost Asian suppliers, but the resulting cost savings have been offset by plunging prices for mainstay liquid-crystal display sets. Sony’s television business has been in the red since 2003-04 though executives routinely predict its imminent return to profitability.
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