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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