Sony has decided to shut 20 out of 31 retail outlets across the US. Only 11 stores that are placed in main markets would remain open.
This move is made to eliminate the non-profitable units and balance the company. Last month, the company sold its PC business, and in past couple of years it has chopped off 12,000 jobs. Their new step of eliminating outlets would lead to chopping of another 5,000 positions from its roster.
Sony is struggling to decrease its liability and size. Even after rebranding in 2011, the retail stores have not achieved great success. Meanwhile, Apple’s stores were rising in market, while Sony vegetated. The Japanese firm later adapted Apple’s strategy and changed the stores’ name from Sony Style to just Sony, still to no avail. Sony clearly does not have the right amount of both luck and skill to be successful in retail.
Have a news story, an interesting write up or simply a suggestion? Write to us at info@oneworldnews.in
