Sony Corporation Company Information Sony example essay topic
Today, Sony Corporation develops and manufactures consumer and industrial electronic equipment. The Company's products include audio and video equipment, televisions, displays, electronic components, computers and computer peripherals, and telecommunication equipment. The Company is also active in the worldwide music and image-based software markets. Since the 1980's, Sony had transformed itself from an electronics company to a global entertainment company with such products.
Some of this company's major competitors include Matsushita, Philips, and Sanyo. The world's first CD player was launched in October 1982. Sony conducts insurance operations through Sony Life, a Japanese life insurance subsidiary, and Sony Assurance Inc., a Japanese non-life insurance subsidiary. Sony is engaged in a leasing and credit financing business in Japan through Finance International Inc. It also conducts an internet-based banking business in Japan through Sony Bank Inc. which is an eighty percent directly owned subsidiary of Sony Financial holdings. Sony acquired Columbia records from CBS and it was named Sony Music Entertainment.
Sony has been historically notable for pushing its own in-house standards for new recording and storage technologies, which are often different from those of other manufacturers or of market trends and standards. On July 20th, 2004, the European Union approves a 50-50 merger between Sony Music Entertainment and BMG. The new company will be called Sony BMG, and will control 60 percent of the world wide market. On September 13th, 2004, a Sony led group finalized the deal to purchase famous film studio MGM (Metro Goldwyn-Mayer) for about 5 billion dollars. Overall, this company seems to be expanding in every step of their existence and this is just the beginning to an even more successful company. The products are beginning to expand over the years and as long as they keep coming, this company will remain on top.