Sony Corporation is a company with rich legacy and memorable history. Sony is a Japan based multinational conglomerate headquartered in Tokyo. This leading electronic manufacturing company was started in 1946 by Masaru Ibuka and Akio Morita, as a radio repair shop and rest is history. Today Sony is associated with quality products and innovations. Products like walkman, Camera, PSP portable, PS3, TVs etc have made the company a roaring success with exponential revenue growth. With technology at the growth curve it is natural for company like Sony to make most out of this situation. But not everything is as rosy as it looks, when Apple Inc, Samsung are taking leadership position in their respective segment of electronic products Sony is under free fall from plummeting sales and dwindling market share. Once the roaring lion of electronic products is now struggling to keep its market share and revenue to the respectable level. The road is narrow and tough but not impossible. The recent announcement of $6.4 billion net loss by Sony Corporation has taken the market by surprise and analyst are predicting of drastic changes in the management level. To make matter worse Sony furthered announced lay-off of 10000 employees.
- Sony Corporation's "One Sony" - New Surviving Strategy?
To overcome the loss and sliding market share the board is making some crucial decision and restructuring the management to give much needed momentum for the sales. The appointment of new CEO kazuo Hirai was the first step. Now series of strategic initiatives to stabilize the growth of it business is considered to be very crucial. Now, Sony is coming up with ‘One Sony' initiatives that include a clear focus on India and Mexico, which are currently emerging markets of the world. Sony from onwards will be concentrating more on its core business like gaming, digital imaging and mobile and will transfer display and chemical products businesses to other parties. For the current restructuring it has pumped closed to $1 Billion. Sony believes in the coming fiscal it will achieve its target of $105 Billion. Promises are not enough real innovation and real action is all Sony need to make itself a success again.
