Subject category:
Strategy and General Management
Published by:
IBS Case Development Center
Length: 13 pages
Data source: Published sources
Topics:
Consumer electronics; Walkman; Compact disc; Mobile communication; Global TV market; Digital camera; Cost restructuring; Supply chain management; Internet ready devices; Silo organisational structure; Product interoperability; Structural re-organisation; Group convergence strategy; Middleware; Profit structure
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Abstract
Since the late 1990s, Sony Corporation, known for its pioneering products like the Walkman, the compact disc and the PlayStation, has been witnessing fierce competition from companies like Apple Computer, Matsushita Electric, Sharp and Samsung. Further, due to several unrelated diversifications, Sony's shares have lost two-thirds of their value since 2000. Despite several cost-cutting measures initiated by the former Chairman, Nobuku Idei, Sony failed to contain declining sales and operating losses. In June 2005, Sir Howard Stringer, the then Chairman of Sony America, was appointed as the new Chairman of Sony Corporation (the first ever non-Japanese to be Sony's Chief Executive Officer) and was handed the mantle to steer the company out of the financial crisis.
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Abstract
Since the late 1990s, Sony Corporation, known for its pioneering products like the Walkman, the compact disc and the PlayStation, has been witnessing fierce competition from companies like Apple Computer, Matsushita Electric, Sharp and Samsung. Further, due to several unrelated diversifications, Sony's shares have lost two-thirds of their value since 2000. Despite several cost-cutting measures initiated by the former Chairman, Nobuku Idei, Sony failed to contain declining sales and operating losses. In June 2005, Sir Howard Stringer, the then Chairman of Sony America, was appointed as the new Chairman of Sony Corporation (the first ever non-Japanese to be Sony's Chief Executive Officer) and was handed the mantle to steer the company out of the financial crisis.