Sony Restructures Its TV Business Due To Consecutive Annual Losses

Sony Corp Cutting Ties With Samsung

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One of the worlds' Consumer electronics giant, Sony Corp seems to be undergoing some major restructuring this year. First it was the announcement that they would be buying off Ericsson for a hefty $1.05 billion in cash and now they are announcing plans to split their TV business into three divisions.

Apparently for the past seven years, the TV division of the company has been making some major annual losses. When the restructuring is done, Sony's TV department will have three branches: LCD TVs, Next Generation TVs and Outsourced Televisions.

While this is happening, Sony is also in negotiations with Samsung Electronics to sell off its' shares in their S-LCD joint venture which supplies parts major firms including the cell phone manufacturer, HTC.

Let's hope all these drastic changes would turn out right for them all in the long run Winking smile

Source 1 | Source 2

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