Sony

Tagline

Make believe

Net Worth

$95,000,000,000

Started in (City)

Tokyo

Started in (Country)

Japan

Incorporation Date

07th December, 1946

Bankruptcy Date

Founders

Akio Morita
Masaru Ibuka

About

Sony Group Corporation (commonly known as Sony and stylized as SONY) is a Japanese multinational conglomerate corporation headquartered in Kōnan, Minato, Tokyo. The company operates as one of the world's largest manufacturers of consumer and professional electronic products, the largest video game console company, the second largest video game publisher, the second largest record company, as well as one of the most comprehensive media companies, being the largest Japanese media conglomerate by size overtaking the privately held, family-owned Yomiuri Shimbun Holdings, the largest Japanese media conglomerate by revenue. Sony, with its 50 percent market share in the image sensor market, is among the semiconductor sales leaders and, as of 2015, the fifth-largest television manufacturer in the world by annual sales figures. It is the world's largest player in the premium TV market, a market for a television of at least 55 inches (140 centimeters) with a price higher than $2,500.

Beginning

The history of Sony dates backs to the time when World War II came to an end. Masaru Ibuka opened an electronic repairs shop in a damaged departmental store building in Tokyo with eight employees. He was joined by Akio Morita. In 1946 they both started Tokyo Tsushin Kogyo (Tokyo Telecommunications Engineering Corporation). They created the first ever Tape Recorder in Japan, and named it Type-G. After a series of thinking and brainstorming sessions they renamed the company as. Sony in 1958, so that their brand can be popularized across countries, particularly in the US as the Japanese Name was difficult to pronounce. Their first branded product was TR-55, transistor radios, the first of its kind in Japan. Printed circuit boards were used which was not common then. It was designed by Sony and a technology license from Bell Labs. In 1957, they launched TR-63, the smallest version of the transistor radio. It was Slim, Sleek and Small. The company used the term ’pocketable’ to market it. It was so successful, the term was included in English Dictionary. People, especially youngsters loved the TR-63 as it was portable and ensured privacy in listening to music. Sales figures were huge, around 5,000,000 units were sold by the end of 1968.

Road to Success

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 1980s, 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 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 had run a major Japanese electronics firm. Stringer helped to reinvigorate the company's struggling media businesses, encouraging blockbusters such as Spider-Man while 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. In a bid to provide a unified brand for its global operations, Sony introduced a slogan known as "make. Believe" in 2009.

Challenges

Besides electronics, Sony is in the music and movie business. While this would seem to be a natural combination, the company seems to be struggling in making its content available to its gadgets. Part of the problem appears to be a battle between openness and security. Media creators want to ensure that their offerings are safe, so that the business doesn't fall victim to piracy. Consumers want simplicity and interoperability. Also, Sony pioneered the market with its Walkman more than a quarter century ago, but it long ago lost its lead and technological edge. Today, Apple Computer Inc.'s iPod is the digital music market leader and consumer favorite. Moreover, Sales of traditional sets are on the decline and prices are falling for more advanced digital TVs. Meanwhile, Sony faces more competitors and a shrinking market share. Sony is in a particularly difficult position with plasma TVs because it doesn't make its own screens but has to keep up with rivals' steep price reductions.

Failures

Few of the Sony brands disappoint the market. Yet the power of the brand has vanished. Divesting itself from the PC market, the end of the Vaio happens and then returns lamely. Even the SONY brand entertainment group has taken a hit, falling into a two-way tie with Paramount as Warner Brothers surges past. The Xperia sports disappointing sales and a backlog of sourcing issues. In short, SONY is losing ground everywhere. There was a time when the SONY Brands dominated the high-end tube television market with its Trinitron brand. Consumers routinely left the little sticker on the bottom left of the screen after the purchase. It quietly proclaimed “It’s a SONY.” Today, the brand is a struggling afterthought as a crowded consumer electronic market has sucked the wind out of SONY sales.

Achievements

In 1973 Sony received the first Emmy awarded to a Japanese company, for developing the Trinitron colour TV
Sony Electronics – “Top Performance Award” (2006)
National Commendation for Invention
Gold rating in the 2017 Pride Index
iF Design Award

Subsidies

Sony Entertainment Network
Sony Pictures
Sony Music Entertainment
Hawk-Eye Innovations Ltd.
Sony Mobile
Syco

CEOs

Sir Howard Stringer
Kazuo Hirai
Kenichiro Yoshida