Sony TV fans can rest easy: the company does not intend to part with the division responsible for televisions. As CEO Kazuo Hirai said on Thursday, a sale of the area is totally ruled out.
Even without making a profit for almost a decade, Sony does not intend to leave the television business. However, the company has already decided to transform the area into a part company, called Sony Visual Products Inc. The goal is to offer more transparency.
The division of the television area, however, has generated speculation that the plan would be to transfer the responsibility for this area to another company. Hirai’s statement belies any other plan than to remain in control of TV production.
He does not rule out, however, that in the future the search for a partner may be made to share the growth and risks of the area, but at the moment this is not in the plans.
Since 2012, when the executive took office, investors have been pushing for a sale of the division, which was losing a lot of money annually. The decision to create Sony Visual Products is a response to these shareholders.
The area is described as one of the main causes of the recurring losses that the company has announced each year. This is because the Japanese company has not been able to compete with Korean LG and Samsung, who populate the market with cheaper products and dominated the television business in recent years.