An Era Of Sony Corporation
Sony Corporation is a Multinational Conglomerate which deals in a wide range of high quality electronic equipment, consumer electronics products, home entertainment products, mobile communication devices and imaging products and services. The brand also produces and distributes motion pictures, video games and television programs which incorporate a great technology behind them. Today Sony Corporation has emerged as one of the major Japanese manufacturer of consumer electronics products in the world
It is one of the leading manufacturers of electronics products for the consumer and professional markets.Moreover, ithas alsoincorporated its business into many other ventures like Electronics, Film and Television, Music, Games and other businesses like Biotechnology, Education and Information, Financial Services etc. Sony Group Corporation is the holding company of the Sony Group, which comprises Sony Corporation, Sony Semiconductor Solutions, Sony Entertainment (Sony Pictures, Sony Music), Sony Interactive Entertainment, Sony Financial Holdings, and others.
When did Sony become a corporation?
Sony Corporation was founded by two young entrepreneurs, Masaru Ibuka and Akio Morita in 1946. It was started as a small company with a capital of just 190,000 yen and a small team of approximately 20 employees. Formerly it was named as Tokyo Tsushin Kogyo, Ltd. But later on it was renamed to Sony Corporation in 1958.
History of Sony Corporation
Sony Corporation is a legend and one of the established names in consumer electronics. The first Sony-branded product was TR-55 transistor radio, which appeared in 1955. After its success they introduced a stream of revolutionary products such as the Trinitron television, tape recorder, the Betamax VCR, the CD player, the Walkman portable cassette player, and the PlayStation game console. The company’s electronics segmentincludes a wide variety of audio and video products, televisions, personal computers, monitors, computer peripherals, telecommunications devices, and other electronic components, which bring about two-thirds of the overall revenues.In recent years, the company has focused its vision onbuilding leadership mainly in software and hardware section.
Arise Of Sony Corporation
In the last few decades Sony has emerged from a small firmof 20 workers, to a multinational corporation employing about thousands of employees. It has come out as an undisputed leader in the consumer electronics space. Past few years the brand has achieved great heights which can be concluded as follows:
- Sony has built a great brand value. This is highlighted by the fact that the company was tagged in a 2011 survey as Asia’s most valued brand.
- The organization is inseparable from innovative greatness and has a rich legacy of technological expertise.
- Apart from its benchmark products like the Trinitron Color television, VCR, and Walkman, the company is also famous for developing the magnetic recording tape, the compact disc, and the Blu-Ray disc, used today as a medium for high-definition video playback. Its latest innovation, a Crystal Led television, was well received at the Consumer Electronics Show in Las Vegas.
- Out of all its products at present, Sony’s success with the PlayStation is the most. Even after decades of its release, it has tremendous consumer demand till present.
- A strong foothold in the entertainment industry with Sony Music and Sony Pictures has been beneficial to the company by offsetting losses in its consumer-products division.
Downswing Of Sony Corporation
Earlier Sony was the most remarkable brand among others in customer electronics. For a very long time, the organization was perceived as a forerunner in development and an innovation pioneer.Despite its great successes, the company faced continued struggles in the mid- to late-2000s.
- The high cost of media production, especially in its television business, has affected the company’s pricing strategy. Its television business has lost an equivalent of $6.3 billion for eight years in a row. It’s also losing market share to manufacturers, such as LG and Samsung.
- While investing into too many business segments at the same time, the consumer electronics giant has shifted its focus from its core competency — making great consumer-electronic products. This has resulted in a distortion in Sony’s brand. Apple, which is also in the consumer electronics space, has managed to focus on just a few products, build competency, and make them incredibly successful.
- The company lately bought off its entire Sony Ericson joint venture which ends up being a very wrong decision by the brand.
- Sony faces price competition from competitors,mainly from Samsung and LG, who gained lots of attention withtheirlowcost products like televisions and mobile devices.
To sum up, Sony was once a dominant force in the tech space. Many of its products help the organization to establish itself as a leader in the market. However, the company’s business started on a steep decline with few wrong decisions & other tough competitions. Moreover Sony also lost the track of its brand focus & gets diverted away from its core.
But with smart strategy at the corporate, product and brand levels, there is probably a way back for the brand to regain its lost spark. If the company uses its innate strengths and opportunities judiciously, it’s not a doubt that company will revive its past glory.