Sony will not exit its TV manufacturing business despite huge losses. Sony Corp, in a statement October 11th, said it had no major announcements about restructuring its TV business. Sony’s TV manufacturing division has lost money for eight straight years in a row, not helped by dramatic exchange rate fluctuations and the slide of the Euro against the Yen.
Sony had hinted back in August that a restructuring was under consideration.
An interview with Sony CFO Masaru Kato also said that Sony was also cautious about this year’s pre-Christmas sales season which normally generates a huge sales volume across all of Sony’s TV-related businesses. “Looking at Europe and North America overall, the outlook is murky,” Kato said. “We don’t see any reasons for optimism.”
“I am sorry if we have given the mistaken impression that there is going to be some big announcement,” Kato said of the TV unit restructuring. “We are not thinking of doing that.”