Will Sony Survive?

Sony has not done so well in the 21st century.

Will Sony Survive?

Madison Nash, Writer

On May 7, 1946 the fourth major corporation in the world, Sony, was founded in Tokyo Japan. The founders, Masaru Ibuka and Akio Morita originally created a company called Tokyo Tsushin Kogyo or Tokyo Telecommunications Engineering Corporation who established the first tape recorder. Later on, in 1958 the founders changed their name to Sony.

The corporation’s first product was a TR-55 transistor radio, and the product was a hit. American teenagers in the mid 1950’s begun to buy transistor radios in large numbers. So, in 1960, the co-founder, Akio Morita, founded Sony corporation of America. After returning to Japan, he encouraged middle aged, experienced men to join Sony. This also inspired other Japanese business owners to do the same. Sony had a major part in the development in Japan as a major exporter.

After handing over the company to his successor and co founder, Akio Morita, the company began to grow. Soon the company began to succeed in many different areas and linking, such a music, digital electronics, and film to the internet. However, this became an unprofitable method.

Later, in 2005, Howard Stringer replaced  Nobuyuki Idei as chief executive officer of Sony. Stringer tired to help the company regain its struggling media business by pushing blockbuster movies, such as Spiderman. However, he cut 9,000 jobs in the process.

Sadly, the company soon went downhill in the late 2000’s. In 2014 they closed 20 stores and cut over 40 jobs in their entertainment division, as well as losing 450 employees. Sony then filed notices in California, asking to reduce 490 jobs. Now, Sony is struggling to keep their business going, losing 7.8 billion dollars over a decade.

Sony is said to file bankruptcy over the next two years and has a 22% chance of surviving, even with their partnership with Microsoft. Will Sony continue to live on? Or is Sony just a dying brand?