Deathwatch: Sony... really?
They make stupid adapters that only work on Sony products and George Michael hated them. With that, it isn't easy to feel any sympathy for the electronics giant, unless you like non-universal leads and hate Wham!
And Sony are certainly feeling sorry for themselves today as they have forecast a fourth straight year of losses. Of course, Sony are stubborn asses and all this isn't their fault, rather, American tax expenses.
Oh, and they've sold bugger-all television sets. That's definitely their fault.
Naturally, the company needs someone to come and kick everyone in the seat of their pants, and Kaz Hirai, who took over as chief executive from Sir Howard Stringer at the start of this month, is getting ready to give everyone a proper kicking while gnashing his mouth and shouting about taking “painful steps” including withdrawing from businesses.
So what is Hirai going to do? Well, he's promising to sort out the television wing which has lost $10bn in 10 years all by itself. He's also looking at axing 10,000 jobs worldwide. That's six per cent of Sony’s work force.
“The old Sony culture would only allow it to make things that were the best globally,” said Tetsuru Ii, president of Commons Asset Management. “Under that logic, does it make sense for Sony to continue its TV business, when it's not even the market leader in Japan?”
With Sony telling investors that they expect to record a $6.4bn net loss for the financial year just ended, things are looking pretty grim. Could this be the beginning of the end for the electronics Godzilla?