Sony Corp.

Sony Expects Bigger Losses for 2012, Shares Drop 9%

by Sohrab Osati | Apr 10, 2012 | 6 comments

The last two days have been anything but pretty on the stock market with most companies down a few percentage points. Shares of Sony however have taken even a bigger beating, down $1.81 or 9%. Despite Sony having incurred multiple quarters of losses with more losses expected, the Japanese electronic giant surprised investors with an announcement which pointed towards bigger fiscal year 2012 losses which ends in March. The good news is that the bigger loss isn’t due to further market erosion from competition with the like of Apple and Samsung but due to “a ¥300 billion non-cash charge to reflect the adjustment of certain assets.”

Despite the optimistic view, this adjustment in taxes will leave Sony with a net loss of ¥520 billion ($6.4 billion) which is a far cry from the ¥220 billion ($2.7 billion) the company had forecast on February 2nd which in itself is terrible. Sony who has not recorded a profit on their balance sheet since 2008 also incurred a loss of $3.2 billion in 2011.

Japan Display, the Sony, Toshiba, Hitachi LCD Venture is Now Operational

by Sohrab Osati | Apr 9, 2012 | 10 comments

Just as announced over a year ago, Japan Display, a merger of the LCD production from Sony, Toshiba, and Hitachi is now fully operational. The new company which was formed from the merger of the 3 companies LCD business, due to high competition from foreign entities like LG and Samsung was backed by a ¥230 billion ($2.8 billion) injection from the Japanese government which has a 70% stake in the company. The remaining 30% is than divided equally between the three companies with each receiving a 10% stake. With a 6,200 employee workforce, Japan Display will focus on small and medium sized LCD production.

“We aim to become a global leading company born in Japan,” Japan Display President Shuichi Otsuka said. “We will make quick decisions with the flat organization.”

Sony to Cut 10,000 Jobs, 6% of Workforce

by Sohrab Osati | Apr 9, 2012 | 16 comments

The Nikkei, Japans version of the Wall Street Journal is reporting that come April 12th, the Sony is expected to make some big announcements in regards of the companies future and direction will be the cut of 10,000 jobs. This 6% reduction in work force will only be part of the plan as new CEO, Kaz Hirai will also be asking the top seven Sony execs, including former CEO, Sir Howard Stringer to forgo any bonuses that would have otherwise been awarded to them. Of course, for a company that’s been losing money for the past sever years, it’s hard to see why anyone would be awarded a bonus.

Sony to Announce New Business Strategy on April 12th

by Sohrab Osati | Apr 5, 2012 | 18 comments

Despite being at the helm of Sony for only five days, Kaz Hirai, a long time Sony veteran has waisted no time in rocking the giant ship that is Sony and cleaning house. Kaz has appointed Kunimasa Suzuki as Sony Mobile CEO, replacing Bert Nordberg who under his watch, saw Sony fall behind to competitors like Apple and Samsung. Kaz has also introduced a new 3 pillar strategy called ‘One Sony‘ where the company will continue to focus, invest, and improve its digital imaging, games, and mobile divisions.

Now, we’ve learned that Sony will be outlining a new business plan on April 12th. Kaz Hirai who will also be attending the announcement is expected to shed light on Sony’s ailing television business as he’s personally overseeing all future operations.

Court Sides With Sony on Its Terms Of Service Changes

by Sohrab Osati | Apr 5, 2012 | 18 comments

Most companies, like Apple, Microsoft, and Sony who offer vast services like iTunes, Xbox Live, and the PlayStation Network, change their terms of services on occasion to address to features while also protecting themselves from competitors and lawsuits. Last year, Sony would do just that for the PSN, introducing a term where users were required to take disputes to arbitration, rather than court. The new clause introduced by Sony is one that is found in most popular services like the ones mentioned above. It goes without saying that most people don’t the many pages of TOS and blindly agree to them and in this case, if you wanted to continue using PSN, you had to adhere to the new rules. This however, didn’t sit well with some users who did actually read the new document from Sony and in true American way, decided to file a class action lawsuit against the PlayStation maker.

Sony Continues to Clean House, Announces Kunimasa Suzuki as Sony Mobile CEO

by Sohrab Osati | Apr 4, 2012 | 2 comments

It’s hard to believe that Kaz Hirai has just taken over as CEO of Sony and yet under his eye, he and his small group of advisers have already started to clean house at Sony. Under a new plan called ‘One Sony’ Kaz has highlighted the three strongest pillars of Sony: digital imaging, games, and mobile. These three departments, which will be the new core of Sony, will see continued support and resources invested to further strengthen and expand them. Jack Tretton will continue to lead the PlayStation division where Kaz previously served for five years and is most credited for turning around the then-ailing division, while Michael Lynton was named CEO of Sony America which encompasses Sony Music Entertainment, Sony/ATV Music Publishing, and Sony Pictures Entertainment. With Kaz looking to turn his personal attention to Sony’s troubled TV business, Kunimasa Suzuki (pictured left) has been named President and CEO of Sony Mobile where Bert Nordberg previously lead.

Meet the Sony NEX-FS700. We Have Specs and Pics

by Sohrab Osati | Apr 2, 2012 | 20 comments

Not a few hours after our report on the Sony NEX-FS700 and its rumored specs with no pictures to be spoken of, we learn of the camera’s official specs with a few pictures to hold us over until NAB 2012 which will be held in Las Vegas at the end of April. So the big rumor of course was the camera’s ability to shoot in 4k resolution and I’m happy to report that those indeed were true. So what else can you expect? Find out after the jump.

Sony to Launch $8,000 4K Cinema Camera; the NEX-FS700E?

by Sohrab Osati | Apr 2, 2012 | 7 comments

While the RED Scarlet has been the darling of the internet and low-budget filmmaking for sometime, it seems like there’s a new challenger in town. Sony, who’s no stranger to the camera field, producing consumer HD and 3D camcorders while also providing a vast range of the cinema grade cameras which are used to shoot many Hollywood feature films, is set to enter a contender and fight off the RED invasion. Expected to be introduced at NAB later this month with a June release date, the NEX-FS700E is rumored to carry a $8,000 price tag.

Sony and Sharp Venture Starts to Fall Apart

by Sohrab Osati | Mar 30, 2012 | 24 comments

When the soon-to-be Sony President and CEO, Kaz Hirai, announced his ‘One Sony’ strategy which included three pillars of focus, Sony’s television business was most notably missing. In his announcement, Kaz specifically outlined that he would begin to personally oversee the troubled division and make strategic decisions accordingly. Now, we’ve come to learn that Sony’s LCD partner, Sharp, who’s been in deep financial trouble themselves and had to sell off some its shared LCD business with Sony to Taiwan’s Hon Hai Group, is continuing their financial downward spiral. Due Sharps inability and Sony’s recent reassessment of LCD manufacturing which had them sell off their stakes of S-LCD manufacturing to Samsung, Sony has decided to halt all financial injections into the partnership which produced large panel LCDs. Sony is giving the partnership until the end of September to “to permit study of the future direction of the joint venture.”

Should You Buy ‘Journey?’

by Chris Quibol | Mar 30, 2012 | 18 comments

Videogames at their worst are trivial and unfulfilling distractions, used purely for entertainment, and tossed aside seconds after completion, never to be looked at again. However, at their very best, videogames can be genuinely inspiring works of art, things that elicit discussion and awe whenever mentioned while still remaining fun to play. These are games after all. And while a lot of talk has floated around lately about how much of a “game” Journey really is, there is no doubt in my mind that Journey represents the very best that videogames have to offer, simultaneously innovating and inspiring during the memorable, albeit short, trip through its excellently-crafted world.

It’s not an exaggeration when I say that Journey is unlike any other game I’ve ever played. Everything in the game feels deliberate. The developers at thatgamecompany have really crafted one of the tightest game experiences ever, where no second feels wasted or unnecessary. Journey doesn’t have any dialogue or any traditional exposition, nor does it have any sort of combat or real conflict. The heart of Journey lies in exploration and movement.

The premise behind Journey is simple: get your character from point A to point B while occasionally solving simple puzzles. Your character can jump, float, and use the wind to glide across the often vast landscapes; though unlike most games that focus on movement, very little skill is necessary to accomplish your goal. Still, thatgamecompany manages to make the movement feel intensely satisfying, and the details in how your character moves or how the wind sometimes blows in the direction you travel to give you a slight boost of speed help players get lost in the beautifully designed world.

Michael Lynton Named CEO of Sony America

by Sohrab Osati | Mar 29, 2012 | 21 comments

It seems that during this year, Kaz Hirai won’t be the only high profile Sony executive with a new position. Michael Lynton (pictured on the right), who became Chairman and CEO of Sony Pictures Entertainment in 2004 and has seen tremendous success with The Social Network, The Girl With the Dragon Tattoo, the Spider-Man and James Bond franchise has now been appointed as the CEO of Sony Corp. Given a few months to conduct the transition, Lynton will officially take control of Sony America on June 27th. Current Sony CEO, Sir Howard Stringer who was previously the CEO of Sony Music/BMG before taking control of the company in June 2005, commented on Lyntons appointment, stating:

Lynton is an incredibly accomplished executive who has distinguished himself in at least three different fields — entertainment, technology and publishing

Kaz Hirai Announces ‘One Sony,’ A New 3 Pillar Restructuring Strategy

by Sohrab Osati | Mar 27, 2012 | 6 comments

It’s no secret that Sony has been having financial problems as they’ve fallen behind many of their competitors like Apple and Samsung. The once world-renowned electronic giant has been playing catch up in many markets for nearly the last decade, despite many strong assets like their PlayStation and camera divisions which have continued to grow and surpass rivals such as Nikon and Canon who’ve failed to innovate. Even the PlayStation division was in jeopardy 5 years ago when Sony misjudged competition with a horrible PlayStation 3 launch which offered few games and even less inventory for months to consumers. With such an expensive misstep, it was Kaz Hirai who was appointed head of the PlayStation division and has been mostly credited to turning around the division.

Despite not officially taking the reigns of Sony till April, the bilingual and bicultural Hirai has already begun working on a restructuring plan for the company that he’s been a part of for over 20 years. Called ‘One Sony,’ this new business restructuring is intended to establish rapid and optimized decision-making processes which emphasizes three electronic pillars for Sony: digital imaging, games, and mobile. Arguably the most healthy parts of Sony, these three departments will see continued support and resources invested to further strenghten and expand them. Kaz will not be alone on this venture as Sony’s Corporate Executive Officers Masaru Kato, EVP and CFO, and Tadashi Saito, EVP and CSO (Chief Strategy Officer) will be part of this inner circle to personally oversee the products, managements, and engineers who deal with each division.

Music Unlimited Gains Android 4.0 Ice Cream Sandwich Support

by Sohrab Osati | Mar 26, 2012 | 11 comments

Sony’s Music Unlimited service for Android devices is gaining a major update today by being rewritten with Android 4.0 Ice Cream Sandwich in mind and can be downloaded from the ~~Android Market~~ Google Play. It doesn’t seem like any new features were added to the service, outside of compatibility with Android 4.0 which is coming to the Sony Tablet S and P. Sony has also just announced the Xperia neo L for China which ship with Ice Cream Sandwich.

Sony NEX-FS100 Firmware Delayed till Late April

by Sohrab Osati | Mar 26, 2012 | 22 comments

Remember how we may or may not have told you about a new Sony NEX-FS100 firmware which was suppose to arrive on March 22nd and add features such as 50Hz recording system (PAL): 1920×1080 50p, 50i, 25p and 1280×720 50p? Well, you may noticed that March 22nd has come and gone and no firmware was released. That’s because Sony has decided to delay the latest firmware till April 19th. The reasons behind the delay are not clear and no new features have been added to the already impressive list of updates which can be found after the jump.

Sony Targets SonyAlphaRumors.com, Wants Them to Shut Down

by Sohrab Osati | Mar 25, 2012 | 27 comments

Over the weekend, I learned about a new legal battle that Sony has picked up. Much like they did in the past with Xperiablog where Sony Ericsson wanted the fan/news site shut down, due to their copyright claim, Sony’s legal team now has SonyAlphaRumors in their crosshair. For those who are not familiar with the website, SonyAlphaRumors is run by the fantastic Andrea, who is a Sony fanatic. Much like us, Andrea created the website which hosts a forum for discussion and is updated regularly with news, because of the passion she has for Sony products.