Sony

Sony

Sony Corporation, commonly referred to as Sony, is a Japanese multinational conglomerate corporation headquartered in Kōnan Minato, Tokyo, Japan. 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 Music Entertainment, Sony Mobile Communications (formerly Sony Ericsson), and Sony Financial.

Despite some successes, the company faced continued struggles in the mid- to late-2000s. Under the vision of co-founder Akio Morita and his successors, the company had aggressively expanded into new businesses.  Sony's principal business operations include Sony Corporation (Sony Electronics in the U.S.), Sony Mobile Communications AB (formerly Sony Ericsson Mobile Communications AB) is a multinational mobile phone manufacturing company headquartered in Tokyo, Japan and a wholly owned subsidiary of Sony Corporation. In 2001, Sony entered into a joint venture with Swedish telecommunications company Ericsson, forming Sony Ericsson. Initial sales were rocky, and the company posted losses in 2001 and 2002. However, SMC reached a profit in 2003. Sony Ericsson distinguished itself with multimedia-capable mobile phones, which included features such as cameras. These were unusual for the time. Despite their innovations, SMC faced intense competition from Apple's iPhone, released in 2007. From 2008 to 2010, amid a global recession, SMC slashed its workforce by several thousand. Sony acquired Ericsson's share of the venture in 2012 for over US$1 billion. In 2009, SMC was the fourth-largest mobile phone manufacturer in the world (after Nokia, Samsung and LG). By 2010, its market share had fallen to sixth place. Sony Mobile Communications now focuses exclusively on the smartphone market under the Xperia name.

Sony is among the Worldwide Top 20 Semiconductor Sales Leaders and third-largest television manufacturer in the world, after Samsung Electronics and LG Electronics. 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 (games), Sony Pictures Entertainment (motion pictures), Sony Music Entertainment (music), Sony/ATV Music Publishing (music publishing), Sony Financial Holdings (financial services) and others.