Final Sony
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SONY AS MNE
Sony Corporation commonly referred to as Sony, is a Japanese multinational corporation
headquartered in Knan Minato, Tokyo, Japan. Its diversified business is primarily focused on
the electronics, game, entertainment and financial services sectors. The company is one of the
leading manufacturers of electronic products for the consumer and professional markets. Sony
is ranked 87th on the 2012 list of Fortune Global 500.
Sony Corporation is the electronics business unit and the parent company of the Sony Group,
which is engaged in business through its four operating segments Electronics (including video
games, network services and medical business), Motion pictures, Music and Financial
Services. These make Sony one of the most comprehensive entertainment companies in the
world. Sony's principal business operations include Sony Corporation (Sony Electronics in the
U.S.), Sony Pictures Entertainment, Sony Computer Entertainment, Sony MusicEntertainment, Sony Mobile Communications (formerly Sony Ericsson), and Sony Financial.
Sony is among the Worldwide Top 20 Semiconductor Sales Leaders and third-largest television
manufacturer in the world, after Samsung Electronics and LG Electronics.
The Sony Group is a Japan-based corporate group primarily focused on the Electronics (such as
AV/IT products and components), Game (such as PlayStation), Entertainment (such as motion
pictures and music), and Financial Services (such as insurance and banking) sectors. The group
consists of Sony Corporation (holding and electronics), Sony Computer
Entertainment (game), Sony Pictures Entertainment (motion pictures), Sony MusicEntertainment (music), Sony/ATV Music Publishing (music publishing), Sony Financial Holdings
(financial services) and others.
Its founders Akio Morita and Masaru Ibuka derived the name fromsonus, the Latin word for
sound, and also from the English slang word "sonny", since they considered themselves to be
"sonny boys", a loan word into Japanese which in the early 1950s connoted smart and
presentable young men Sony found its beginning in the wake of World War II. In 1946, Masaru
Ibuka started an electronics shop in a bomb-damaged department store building in Tokyo. The
company had $530 in capital and a total of eight employees The next year, he was joined by his
colleague, Akio Morita, and they founded a company called Tokyo Tsushin Kogy.(Tokyo
Telecommunications Engineering Corporation). The company built Japan's first tape recorder,
called the Type-G. In 1958 the company name was changed to Sony (see also Origin of name,
below).
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In the early 1950s, Ibuka traveled in the United States and heard about Bell Labs' invention of
the transistor He convinced Bell to license the transistor technology to his Japanese company,
for use in communications. Ibuka's company made the first commercially successful transistor
radios. According to Schiffer, Sony's TR-63 radio "cracked open the U.S. market and launched
the new industry of consumer microelectronics." By the mid 1950s, American teens had begun
buying portable transistor radios in huge numbers, helping to propel the fledgling industry from
an estimated 100,000 units in 1955 to 5 million units by the end of 1968. In the mid 1970's Sony
introduces the CRF-320A multiband radio with digital tuning. Zenith Radio Corporation had long
been a leader in the high priced multiband radio market with the Trans-Oceanic line, but Sony
provided digital tuning (LED display) versus Zenith's analog slide rule tuning in the model R7000
for about the same price. By the 1980's Sony would become the leader of multiband radios with
the ICF-2001 and ICF-2010 digital multiband radios using LCD display. Zenith would end
the Trans-Oceanic line.
Sony co-founder Akio Morita founded Sony Corporation of America in 1960. In the process, he
was struck by the mobility of employees between American companies, which was unheard of
in Japan at that time.]When he returned to Japan, he encouraged experienced, middle-aged
employees of other companies to reevaluate their careers and consider joining Sony]The
company filled many positions in this manner, and inspired other Japanese companies to do the
same. Moreover, Sony played a major role in the development of Japan as a powerful exporter
during the 1960s, 70s, and 80s It also helped to significantly improve American perceptions of
"made in Japan" products. Known for its production quality, Sony was able to charge above-
market prices for its consumer electronics and resisted lowering prices
In 1971, Masaru Ibuka handed the position of president over to his co-founder Akio Morita.
Sony began a life insurance company in 1979, one of its many peripheral businesses. Amid a
global recession in the early 1980s, electronics sales dropped and the company was forced to
cut prices.Sony's profits fell sharply. "It's over for Sony," one analyst concluded. "The company's
best days are behind it." Around that time, Norio Ohga took up the role of president. He
encouraged the development of the Compact Disc in the 1970s and 80s, and of
the PlayStation in the early 1990s. Ohga went on to purchase CBS Records in 1988
and Columbia Pictures in 1989, greatly expanding Sony's media presence. Ohga would succeed
Morita as chief executive officer in 1989.
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Sony Group Headquarters at Sony City in Minato, Tokyo
Under the vision of co-founder Akio Morita]and his successors, the company had aggressively
expanded into new businesses. Part of its motivation for doing so was the pursuit of
"convergence," linking film, music, and digital electronics via the Internet]This expansion
proved unrewarding and unprofitable, threatening Sony's ability to charge a premium on its
products
as well as its brand name In 2005, Howard Stringer replaced Nobuyuki Idei as chief
executive officer, marking the first time that a foreigner has run a major Japanese electronics
firm. Stringer helped to reinvigorate the company's struggling media businesses, encouraging
blockbusters such asSpider-Manwhile cutting 9,000 jobs[
He hoped to sell off peripheral
business and focus the company again on electronics. Furthermore, he aimed to increase
cooperation between business units,[which he described as "silos" operating in isolation from
one another[n a bid to provide a unified brand for its global operations, Sony introduced a
slogan known as "make.believe" in 2009.
Despite some successes, the company faced continued struggles in the mid- to late-2000s.It
became known for its stagnancy, with a fading brand name. In 2012, Kazuo Hirai was promoted
to president and CEO, replacing Sir Howard Stringer. Shortly thereafter, Hirai outlined his
company-wide initiative, named "One Sony" to revive Sony from years of financial losses and
bureaucratic management structure, which proved difficult for former CEO Stringer toaccomplish, partly due to differences in business culture and native languages between Stringer
and some of Sony's Japanese divisions and subsidiaries. Hirai outlined 3 major areas of focus for
Sony's electronics business, which include imaging technology, gaming and mobile technology,
as well as a focus on reducing the major losses from the television business.
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