Are any of Sony's (SNE) electronics divisions doing well? Doesn't seem like it.
Sony saw shrinking sales of the PS3 heading into the holidays, and now the company's president tells Bloomberg that it will likely miss its recently-cut LCD TV targets, too.
In October, Sony cut its LCD sales projections from 17 million to 16 million. Now, president Ryoji Chubachi says, even 16 million will be "tough to reach." He added that "We characterize the environment for our year-end sales as severe.”
It's fair to blame the economy in part, as a collapse in consumer spending is putting the pinch on everyone. But Sony is also getting squeezed because it failed to find synergy between its TV unit and other electronics divisions or find any other way to charge premium prices for its TVs. The company's Bravia TV line is fine, but so are LCD TV sets from Samsung, Panasonic, and half a dozen other competitors, leaving little way to compete except for price.
See Also:
Sony: We Don't Care What "CEO" Howard Stringer Thinks
Sony To 'Slay Sacred Cows'...So Are PS3 Price Cuts Coming?
Sony's PS3 A Sinking Ship: Sales Plummet
Sony PSP2 Rumors Bogus, No New Handheld Gaming Gadget Coming
