TOKYO – Once at the leading edge of consumer electronics, Sony Corp. is now more lumbering giant than trend-setter after falling behind competitors such as Samsung Electronics Co. and Apple Inc.
Sony watchers are urging the down-on-its-luck company to rediscover its pioneering ethos. Founded in 1946, Sony symbolized Japan’s rebirth after its World War II defeat, rising from humble beginnings. It had little else besides the smarts of founders Masaru Ibuka and Akio Morita, to come up with hit after hit: the transistor radio, home tape recorders, the Walkman portable recorder-and-player.
In a sign of its travails, the Tokyo-based electronics and entertainment conglomerate Thursday reported a net loss of 126 billion yen ($1.1 billion) for the fiscal year through March, almost as bad as the 128.4 billion yen loss it racked up the previous fiscal year. Annual sales rose nearly 6 per cent to 8.2 trillion yen.
Sony is forecasting…
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