Sony, Corp. has seen profits slump drastically over the past few years. Competing with companies like Apple and Samsung has caused Sony to rethink its revenue plan. In order to save the company, Sony will be cutting its TV and mobile-phone product line, and focusing solely on PlayStation and image sensors.
Cutting TV and Mobile Costs
Sony plans to cut prices on its TVs and mobile phones over the next few weeks and months. Consumers can expect Sony TV prices to drop drastically quickly, and that’s just fine with Sony. Company representatives told press today that even if sales drop by as much as 30%, that number is fine with the company that’s simply trying to turn some kind of profit. Sony is no longer trying to spread the company’s products across all possible markets, which is why the company will now solely be focusing on video game technology.
What It Means for Consumers
If you have a Sony TV or mobile phone currently, you can expect the technology to be supported by the company for a short while before all support is dropped. On the other hand, Sony TVs will be a lot cheaper to purchase, if you don’t mind the fact that those TVs won’t come with any kind of support in the future - so, it’s really a buyer risk, but one that might pay off, since Sony actually creates some decent TVs.
What It Means for FIFA
Sony will be ending its contract with FIFA as well, which means that there will be no more new FIFA games from Sony moving forward. Instead, Sony is focusing on personal TV, music, and video distribution, which are all things that the company hopes will boost profits. Sony is clearly putting all of its eggs in the video game and console market, since this is where the company believes the future is.
Why Sony is Bowing Out
To put it mildly, Sony has been beaten by Apple and other companies that are just too competitive in the TV and smartphone market. Sony has had very little success when attempting to sell mobile phones, and the company announced a while ago that it planned to back out of China completely and focus more on the U.S. Now, the company has developed a short term plan to simply cut its TV and mobile divisions, so that the gaming aspect of the company can grow faster.
In addition to gaming, Sony will be focusing on its image sensor division. Sony plans to drop more money into image sensor devices, so you can expect to see some new technology from Sony in that department sooner rather than later.
Buying a Sony TV
If you are in the marketing for a new TV, and you don’t care about future support for that product, check out Sony’s television lineup. You’re sure to see prices drop quickly, and that might be worth taking advantage of -- and keep this news in mind if a salesperson tries to sell you a Sony TV at full price!