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href="/money/Sony#ref280843">Diversification and downturn</a></li><li class="link-black font-14 my-10"><a href="/money/Sony#ref554596-references">References</a></li></ul><div class="font-14 font-weight-bold mt-20">Read More</div><div class="TableOfContents_RelatedArticle__yK5m6" data-testid="RelatedContents"><a href="/money/Microsoft-Corporation" class="link-black" data-testid="RelatedContent-1-380624-1"><div class="card card-sm card-horizontal my-15" data-testid="Card"><div class="card-media" data-testid="CardMedia" style="aspect-ratio:50/40"><img loading="lazy" src="https://cdn.britannica.com/71/103171-050-D6D9D227/Bill-Gates-Microsoft-Corporation-operating-system-press-2001.jpg?c=crop&h=40&w=50" alt="Bill Gates" data-testid="IrisImage"/></div><div class="card-body" data-testid="CardBody"><div class="font-14">Microsoft Corporation</div></div></div></a><a href="/money/Philips" class="link-black" data-testid="RelatedContent-1-456530-1"><div class="card card-sm card-horizontal my-15" data-testid="Card"><div class="card-media" data-testid="CardMedia" style="aspect-ratio:50/40"><img loading="lazy" src="https://cdn.britannica.com/53/262453-050-3136A2E3/Philips-company-headquarters-Amsterdam-Netherlands.jpg?c=crop&h=40&w=50" alt="Logo of Philips on the company headquarters building in Amsterdam, Netherlands. Photographed in 2022." data-testid="IrisImage"/></div><div class="card-body" data-testid="CardBody"><div class="font-14">Philips</div></div></div></a><a href="/money/Samsung-Electronics" class="link-black" data-testid="RelatedContent-1-1020548-1"><div class="card card-sm card-horizontal my-15" data-testid="Card"><div class="card-media" data-testid="CardMedia" style="aspect-ratio:50/40"><img loading="lazy" src="https://cdn.britannica.com/52/157052-050-61DE6C39/Samsung-Group-South-Korean-construction-electronics-industries.jpg?c=crop&h=40&w=50" alt="Samsung" data-testid="IrisImage"/></div><div class="card-body" data-testid="CardBody"><div class="font-14">Samsung</div></div></div></a></div></div><button class="btn btn-outline-undefined TableOfContents_MobileTableOfContentsButton__dHpRi d-md-none mb-20 w-100 d-none" data-testid="MobileTableOfContents" type="button" aria-label="Table Of Contents" style="--category-color:var(--red)"><svg stroke="currentColor" fill="currentColor" 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data-testid="Byline"><span class="Byline_popoverTrigger__xVs4j font-14" id="_R1jiksvf7ksq">Mark Hall</span></span><div class="popover AuthorPopover_AuthorPopover__0W0b4" data-testid="Popover"><a class="font-weight-semi-bold" href="/money/author/Mark-Hall/4349">Mark Hall</a><div class="AuthorPopover_shortBio__1tFaf mt-5 font-14 font-serif text-gray-700 line-clamp clamp-4">Coauthor of <em>Sunburst: The Ascent of Sun Microsystems.</em></div><div data-popper-arrow="true"></div></div></div><strong class="font-12 mr-5">Fact-checked by</strong><span class="mr-5" data-testid="Byline"><span class="Byline_popoverTrigger__xVs4j font-14" id="_R1liksvf7ksq">The Editors of Encyclopaedia Britannica</span></span><div class="popover AuthorPopover_AuthorPopover__0W0b4" data-testid="Popover"><a class="font-weight-semi-bold" href="/money/author/The-Editors-of-Encyclopaedia-Britannica/4419">The Editors of Encyclopaedia Britannica</a><div class="AuthorPopover_shortBio__1tFaf mt-5 font-14 font-serif text-gray-700 line-clamp clamp-4">Encyclopaedia Britannica's editors oversee subject areas in which they have extensive knowledge, whether from years of experience gained by working on that content or via study for an advanced degree. They write new content and verify and edit content received from contributors.</div><div data-popper-arrow="true"></div></div><div class="caption mt-5 d-flex" data-testid="ContentDateAndHistory"><span>Updated: <time dateTime="Nov. 29, 2024">Nov. 29, 2024</time></span></div></div><div class="TableOfContents_TableOfContents__g8WLR d-none" data-testid="TableOfContents"><div class="font-16 font-weight-bold">Table of Contents</div><hr class="mt-0"/><ul class="TableOfContents_TableOfContentsList__yU1tL p-0 mt-0 mb-0 list-unstyled pl-5" style="--category-color:var(--red)"><li class="link-black font-14 my-10"><a href="/money/Sony#ref554596-1">Introduction</a></li><li class="link-black font-14 my-10"><a href="/money/Sony#ref280841">Rice cookers to transistor radios</a></li><li class="link-black font-14 my-10"><a href="/money/Sony#ref280842">Electronics giant</a></li><li class="link-black font-14 my-10"><a href="/money/Sony#ref280843">Diversification and downturn</a></li><li class="link-black font-14 my-10"><a href="/money/Sony#ref554596-references">References</a></li></ul><div class="font-14 font-weight-bold mt-20">Read More</div><div class="TableOfContents_RelatedArticle__yK5m6" data-testid="RelatedContents"><a href="/money/Microsoft-Corporation" class="link-black" data-testid="RelatedContent-1-380624-1"><div class="card card-sm card-horizontal my-15" data-testid="Card"><div class="card-media" data-testid="CardMedia" style="aspect-ratio:50/40"><img loading="lazy" src="https://cdn.britannica.com/71/103171-050-D6D9D227/Bill-Gates-Microsoft-Corporation-operating-system-press-2001.jpg?c=crop&h=40&w=50" alt="Bill Gates" data-testid="IrisImage"/></div><div class="card-body" data-testid="CardBody"><div class="font-14">Microsoft Corporation</div></div></div></a><a href="/money/Philips" class="link-black" data-testid="RelatedContent-1-456530-1"><div class="card card-sm card-horizontal my-15" data-testid="Card"><div class="card-media" data-testid="CardMedia" style="aspect-ratio:50/40"><img loading="lazy" src="https://cdn.britannica.com/53/262453-050-3136A2E3/Philips-company-headquarters-Amsterdam-Netherlands.jpg?c=crop&h=40&w=50" alt="Logo of Philips on the company headquarters building in Amsterdam, Netherlands. Photographed in 2022." data-testid="IrisImage"/></div><div class="card-body" data-testid="CardBody"><div class="font-14">Philips</div></div></div></a><a href="/money/Samsung-Electronics" class="link-black" data-testid="RelatedContent-1-1020548-1"><div class="card card-sm card-horizontal my-15" data-testid="Card"><div class="card-media" data-testid="CardMedia" style="aspect-ratio:50/40"><img loading="lazy" src="https://cdn.britannica.com/52/157052-050-61DE6C39/Samsung-Group-South-Korean-construction-electronics-industries.jpg?c=crop&h=40&w=50" alt="Samsung" data-testid="IrisImage"/></div><div class="card-body" data-testid="CardBody"><div class="font-14">Samsung</div></div></div></a></div></div><button class="btn btn-outline-undefined TableOfContents_MobileTableOfContentsButton__dHpRi d-md-none mb-20 w-100" data-testid="MobileTableOfContents" type="button" aria-label="Table Of Contents" style="--category-color:var(--red)"><svg stroke="currentColor" fill="currentColor" stroke-width="0" viewBox="0 0 24 24" height="1em" width="1em" xmlns="http://www.w3.org/2000/svg"><path fill="none" d="M0 0h24v24H0V0z"></path><path d="M4 10.5c-.83 0-1.5.67-1.5 1.5s.67 1.5 1.5 1.5 1.5-.67 1.5-1.5-.67-1.5-1.5-1.5zm0-6c-.83 0-1.5.67-1.5 1.5S3.17 7.5 4 7.5 5.5 6.83 5.5 6 4.83 4.5 4 4.5zm0 12c-.83 0-1.5.68-1.5 1.5s.68 1.5 1.5 1.5 1.5-.68 1.5-1.5-.67-1.5-1.5-1.5zM7 19h14v-2H7v2zm0-6h14v-2H7v2zm0-8v2h14V5H7z"></path></svg><span class="font-18 ml-5">Table Of Contents</span></button><span hidden="" style="position:fixed;top:1px;left:1px;width:1px;height:0;padding:0;margin:-1px;overflow:hidden;clip:rect(0, 0, 0, 0);white-space:nowrap;border-width:0;display:none"></span><div class="font-serif font-18 lh-lg dropCapArticle"><div class="Article_floatedHeroComponents__8_NjL"><div class="mb-10 BorderlessCard_BorderlessCard__u5tTW d-inline-block w-100 pb-0 rounded border p-10" data-testid="BorderlessCard"><div class="w-100 position-relative d-flex"><img loading="eager" src="https://cdn.britannica.com/26/233526-050-F27B5225/Sony-Corporation-headquarters-Tokyo-Japan.jpg?w=385" alt="Sony headquarters" width="385" data-testid="IrisImage" class="border rounded w-100"/><button class="btn btn-outline-blue-dark btn-xl btn-circle CircleIconButton_CircleIconButton__HkIE0 position-absolute bottom-10 right-10 bg-white" data-testid="CircleIconButton" type="button" aria-label="Open full size image" id="_Rcksvf7ksq"><svg stroke="currentColor" fill="currentColor" stroke-width="0" viewBox="0 0 24 24" height="1em" width="1em" xmlns="http://www.w3.org/2000/svg"><path fill="none" d="M0 0h24v24H0V0z"></path><path d="M15.5 14h-.79l-.28-.27A6.471 6.471 0 0 0 16 9.5 6.5 6.5 0 1 0 9.5 16c1.61 0 3.09-.59 4.23-1.57l.27.28v.79l5 4.99L20.49 19l-4.99-5zm-6 0C7.01 14 5 11.99 5 9.5S7.01 5 9.5 5 14 7.01 14 9.5 11.99 14 9.5 14z"></path><path d="M12 10h-2v2H9v-2H7V9h2V7h1v2h2v1z"></path></svg></button><div class="tooltip font-16" data-testid="Tooltip">Open full sized image<div data-popper-arrow="true"></div></div></div><div class="font-serif text-gray-700 mt-5 font-14 text-left">Sony headquarters, Tokyo.</div><div class="font-serif text-gray-700 mt-5 font-12 font-italic mb-10 text-left">Shuichi Aizawa (cropped from the original)</div></div></div><div class="QuickFacts_quickFacts__FMF2_ border rounded p-20 mb-20 ml-sm-20 mx-auto font-14 bg-white font-sans-serif"><div class="" data-testid="QuickFacts-Facts"><div class="QuickFacts_fact__5ukCJ position-relative mb-10 line-clamp clamp-3"><dl class=""> <dt class="font-weight-bold text-capitalize mr-5">in full:</dt><dd>Sony Corporation</dd></dl></div><div class="QuickFacts_fact__5ukCJ position-relative mb-10 line-clamp clamp-3"><dl class=""> <dt class="font-weight-bold text-capitalize mr-5">Date:</dt><dd>1946 - present</dd></dl></div><div class="QuickFacts_fact__5ukCJ position-relative mb-10 line-clamp clamp-3"><dl class=""> <dt class="font-weight-bold text-capitalize mr-5">Ticker:</dt><dd>SNEJF</dd></dl></div><div class="QuickFacts_fact__5ukCJ position-relative mb-10 line-clamp clamp-3"><dl class=""> <dt class="font-weight-bold text-capitalize mr-5">Share price:</dt><dd>$20.21 (mkt close, Dec. 02, 2024)</dd></dl></div><div class="QuickFacts_fact__5ukCJ position-relative mb-10 line-clamp clamp-3"><dl class=""> <dt class="font-weight-bold text-capitalize mr-5">Market cap:</dt><dd>$120.30 bil.</dd></dl></div><div class="QuickFacts_fact__5ukCJ position-relative mb-10 line-clamp clamp-3"><dl class=""> <dt class="font-weight-bold text-capitalize mr-5">Annual revenue:</dt><dd>$13.15 tr.</dd></dl></div><div class="QuickFacts_fact__5ukCJ position-relative mb-10 line-clamp clamp-3"><dl class=""> <dt class="font-weight-bold text-capitalize mr-5">Earnings per share (prev. year):</dt><dd>$1.21</dd></dl></div><div class="QuickFacts_fact__5ukCJ position-relative mb-10 line-clamp clamp-3"><dl class=""> <dt class="font-weight-bold text-capitalize mr-5">Sector:</dt><dd>Consumer Discretionary</dd></dl></div><div class="QuickFacts_fact__5ukCJ position-relative mb-10 line-clamp clamp-3"><dl class=""> <dt class="font-weight-bold text-capitalize mr-5">Industry:</dt><dd>Household Durables</dd></dl></div><div class="QuickFacts_fact__5ukCJ position-relative line-clamp clamp-3"><dl class=""> <dt class="font-weight-bold text-capitalize mr-5">CEO:</dt><dd>Mr. Kenichiro Yoshida</dd></dl></div></div></div><div class="mb-20 font-sans-serif"><div class="label mb-5 font-weight-bold text-hr text-hr-right font-14">Recent News</div><div class="mt-5 d-flex flex-column" data-testid="RecentNews-Item-3938310"><span class="font-12"><time class="mr-5" dateTime="Nov. 26, 2024, 7:22 AM UTC">Nov. 26, 2024, 7:22 AM UTC</time>(Forbes)</span><a href="https://www.forbes.com/sites/paultassi/2024/11/25/sony-is-developing-a-handheld-standalone-playstation-says-report/" class="d-block font-14 gtm-ap-news-link font-weight-semi-bold">Sony Is Developing A Handheld, Standalone PlayStation, Says Report</a></div><div class="mt-5 d-flex flex-column" data-testid="RecentNews-Item-3948408"><span class="font-12"><time class="mr-5" dateTime="Nov. 25, 2024, 9:30 AM UTC">Nov. 25, 2024, 9:30 AM UTC</time>(Bloomberg)</span><a href="https://www.bloomberg.com/news/articles/2024-11-25/sony-working-on-new-handheld-console-for-ps5-games-to-rival-nintendo-s-switch" class="d-block font-14 gtm-ap-news-link font-weight-semi-bold">Sony Working on Handheld Console for PS5 Games to Rival Switch</a></div><button class="btn btn-xs btn-text-black btn-show-more p-0" data-testid="RecentNews-Toggle" aria-pressed="false">Show More<svg stroke="currentColor" fill="currentColor" stroke-width="0" viewBox="0 0 24 24" height="1em" width="1em" xmlns="http://www.w3.org/2000/svg"><path fill="none" d="M0 0h24v24H0V0z"></path><path d="M7.41 8.59 12 13.17l4.59-4.58L18 10l-6 6-6-6 1.41-1.41z"></path></svg></button></div><section class="HTMLContent_HTMLContent__cOyPs" data-testid="HTMLContent"><span id="ref554596-1" data-level="1" /><p><strong><span id="ref117685" />Sony</strong>, major Japanese manufacturer of consumer <a href="/technology/electronics">electronics</a> products whose diverse activities have included films, <a href="/art/music">music</a>, and financial services, among other ventures. It has been one of the most successful and multifaceted <a href="/money/brand">brands</a> in marketing history.</p></section><section class="HTMLContent_HTMLContent__cOyPs" data-testid="HTMLContent"><span id="ref280841" data-level="1" /><h2 class="h2">Rice cookers to transistor radios</h2><p>The company was incorporated by <span id="ref893437" />Ibuka Masaru and <span id="ref893436" /><a href="/money/Morita-Akio">Morita Akio</a> in 1946 as <a href="/place/Tokyo-metropolis">Tokyo</a> Tsushin Kogyo (“Tokyo Telecommunications Engineering Corporation”). Ibuka, whose <a href="/place/Japan">Japan</a> Precision Instruments Company had supplied electronic devices during <a href="/event/World-War-II">World War II</a>, and Morita, an applied sciences instructor, had met during World War II as engineers designing heat-seeking missiles for the Imperial Japanese Army. Ibuka and Morita worked together for the next 40 years in what has been called one of “business history’s most productive and intriguing relationships.” Ibuka’s genius with product development and Morita’s mastery of business management and marketing turned Sony into one of the most renowned brand names on the globe. <em>Sony</em>, which became the official name for the company in January 1958, was derived from the Latin <em>sonus</em> (“sound”) and was conceived to be an international and not a Japanese term.</p><p>The company’s first consumer product was an electric rice cooker. Although this product sold poorly, Totsuko, as the firm’s name was abbreviated, did have a successful business repairing radios and other electrical equipment. Its repair work for the Japanese radio broadcaster <a href="/money/Nippon-Hoso-Kyokai">NHK</a> had to be approved by the U.S. army of occupation, which later gave the young company repair jobs of its own.</p><p>In 1950 Totsuko introduced the first Japanese-designed <a href="/technology/tape-recorder">tape recorder</a>. Although this consumer item also sold poorly, the company’s fortunes were about to take a dramatic turn. In 1952 Ibuka visited the United States and made the initial contacts for licensing the <a href="/technology/transistor">transistor</a> from <a href="/money/Bell-Laboratories">Bell Laboratories</a>, then a division of <a href="/money/Western-Electric-Company-Inc">Western Electric Company</a>, the <a href="/technology/manufacturing">manufacturing</a> arm of <a href="/money/ATandT-Corporation">American Telephone & Telegraph</a> (AT&T). The next year Morita went to the United States and signed the deal with Western Electric.</p><p>This watershed agreement led to Totsuko’s first hugely successful product line: <span id="ref893450" /><a href="/technology/transistor-radio">transistor radios</a>. Although <a href="/money/Texas-Instruments-Incorporated">Texas Instruments Incorporated</a> was first to market with its Regency transistor radio in 1955, it was Sony’s <span id="ref893448" />TR-63, an inexpensive shirt-pocket-sized all-transistor radio, that caught consumers’ attention when it was released in 1957. Sony’s <span id="ref893446" />pocket radios were a tremendous success and brought international recognition of the company’s <a href="/money/trademark">brand name</a>.</p><span id="ref280842" data-level="1" /><h2 class="h2">Electronics giant</h2><p>By 1960 business in the United States had prompted the creation of <span id="ref893454" /><a href="/topic/Sony-Corporation-of-America">Sony Corporation of America</a>, with headquarters in <a href="/place/New-York-City">New York City</a>. When the company opened its store on Fifth Avenue in 1962, it unfurled the first Japanese flag to be flown in the United States since the beginning of World War II.</p><p>At the 1964 <a href="/topic/New-York-World">New York World’s</a> Fair, Sony introduced the MD-5, the first all-transistor desktop calculator. In 1968 the company shipped its first Trinitron colour <a href="/technology/television-technology">television</a>. By 1971, 40 percent of Japanese households had <a href="/technology/color-television">colour television</a> sets, so Sony introduced the first colour <span id="ref117686" /><a href="/technology/video-tape-recorder">video</a> <span id="ref117687" /><a href="/technology/videocassette-recorder">cassette recorder</a> (VCR), which led to its introduction of the Betamax <a href="/technology/videocassette-recorder">VCR</a> in 1975. The Betamax, though widely considered the best VCR technology ever developed, was more expensive than its competitor, the VHS (Video Home System). As more and more studios and video stores turned to VHS, Betamax lost market share, and Sony finally introduced its own VHS in 1988.</p><p>In 1979 the Sony Walkman portable tape player hit the streets. Although Sony’s engineers were skeptical about designing a device that could only play and not record, Morita insisted on developing the product, saying he would resign if the Walkman was not a success. The Walkman was an international sensation and eventually sold hundreds of millions of units. The first <a href="/technology/compact-disc">compact disc</a> (CD) player emerged in 1982 from a development agreement between Sony and Dutch manufacturer <a href="/money/Philips">Philips Electronics NV</a>. Sony provided pulse-code modulation technology and combined it with Philips’s laser system. The failure of Betamax had taught Sony a lesson; the format standard for CDs (and later digital videodiscs [DVDs]) was agreed upon by a wide range of companies in Japan, Europe, and <a href="/place/North-America">North America</a>. The next year Sony introduced the first camcorder.</p></section><div class="Assemblies_assemblyItemWrapper__siPLQ align-middle Assemblies_singleAssembly__V5KfU Assemblies_floated__P8hHn"><div class="mb-10 BorderlessCard_BorderlessCard__u5tTW d-inline-block w-100 pb-0 rounded border p-10" data-testid="BorderlessCard"><div class="w-100 position-relative d-flex" style="aspect-ratio:1366/1600"><img loading="lazy" src="https://cdn.britannica.com/55/58555-050-BCCFB1B6/cassette-tape-player-Sony-Walkman-1979.jpg?w=385" alt="Sony Walkman" width="385" data-testid="IrisImage" class="border rounded w-100"/><button class="btn btn-outline-blue-dark btn-xl btn-circle CircleIconButton_CircleIconButton__HkIE0 position-absolute bottom-10 right-10 bg-white" data-testid="CircleIconButton" type="button" aria-label="Open full size image" id="_Rlkksvf7ksq"><svg stroke="currentColor" fill="currentColor" stroke-width="0" viewBox="0 0 24 24" height="1em" width="1em" xmlns="http://www.w3.org/2000/svg"><path fill="none" d="M0 0h24v24H0V0z"></path><path d="M15.5 14h-.79l-.28-.27A6.471 6.471 0 0 0 16 9.5 6.5 6.5 0 1 0 9.5 16c1.61 0 3.09-.59 4.23-1.57l.27.28v.79l5 4.99L20.49 19l-4.99-5zm-6 0C7.01 14 5 11.99 5 9.5S7.01 5 9.5 5 14 7.01 14 9.5 11.99 14 9.5 14z"></path><path d="M12 10h-2v2H9v-2H7V9h2V7h1v2h2v1z"></path></svg></button><div class="tooltip font-16" data-testid="Tooltip">Open full sized image<div data-popper-arrow="true"></div></div></div><div class="font-serif text-gray-700 mt-5 font-14 text-left">The original model of the Sony Walkman, 1979.</div><div class="font-serif text-gray-700 mt-5 font-12 font-italic mb-10 text-left">Courtesy of Sony Electronics Inc.</div></div></div><section class="HTMLContent_HTMLContent__cOyPs" data-testid="HTMLContent"><span id="ref280843" data-level="1" /><h2 class="h2">Diversification and downturn</h2><p>By the late 1980s, Sony executives, especially the company president and the chairman of Sony Corporation of America, Norio Ohga, wanted to add entertainment content to Sony’s operations. In 1988 it bought <span id="ref263329" /><a href="/topic/CBS-Records-Group">CBS Records Group</a> from CBS Inc. (now <a href="/money/CBS-Corporation">CBS Corporation</a>), thus acquiring the world’s largest record company, and the next year it purchased <span id="ref263330" /><a href="/money/Columbia-Pictures-Entertainment-Inc">Columbia Pictures Entertainment, Inc.</a> The <span id="ref117688" /><a href="/topic/Columbia-Records">Columbia</a> acquisition, the largest to that time of an American company by a Japanese firm, ignited a controversy in the United States. The controversy was fanned by Morita’s contribution to “No to ieru Hihon” (“The Japan That Can Say No”), an essay written with Japanese nationalist <a href="/biography/Ishihara-Shintaro">Ishihara Shintarō</a> in 1989. They claimed that Japan no longer depended on the United States and was a stronger, better nation than its postwar ally.</p><p>The early 1990s were difficult years for Sony. The Japanese economy entered a decadelong recession, and both Ibuka and Morita suffered strokes (in 1992 and 1993, respectively). Morita officially retired in 1994 and died in 1999. With its founders no longer at the controls, Sony declared its first loss, more than $200 million, in 1993. Despite the business turmoil, Sony continued to design and deliver new products. In 1994 its entertainment division introduced its <a href="/topic/PlayStation">PlayStation</a> <a href="/topic/electronic-game">video game</a> console to the Japanese market. By 2002 the game unit was contributing more than 10 percent of the company’s yearly revenues. Another major profit centre was Sony Online Entertainment, particularly its Internet <a href="/technology/virtual-reality">virtual reality</a> game EverQuest. The company’s entertainment group also captured the imagination of many people with its robot dog, AIBO, introduced in 1999. In 1997 Sony introduced the VAIO line of personal computers. The VAIO was a high-quality and expensive system that the company marketed to users interested in developing or playing multimedia programs.</p></section><div class="Assemblies_assemblyItemWrapper__siPLQ align-middle Assemblies_singleAssembly__V5KfU Assemblies_floated__P8hHn"><div class="mb-10 BorderlessCard_BorderlessCard__u5tTW d-inline-block w-100 pb-0 rounded border p-10" data-testid="BorderlessCard"><div class="w-100 position-relative d-flex" style="aspect-ratio:1600/1124"><img loading="lazy" src="https://cdn.britannica.com/88/65188-050-62028745/ERS-111-AIBO.jpg?w=385" alt="entertainment robot" width="385" data-testid="IrisImage" class="border rounded w-100"/><button class="btn btn-outline-blue-dark btn-xl btn-circle CircleIconButton_CircleIconButton__HkIE0 position-absolute bottom-10 right-10 bg-white" data-testid="CircleIconButton" type="button" aria-label="Open full size image" id="_Rnkksvf7ksq"><svg stroke="currentColor" fill="currentColor" stroke-width="0" viewBox="0 0 24 24" height="1em" width="1em" xmlns="http://www.w3.org/2000/svg"><path fill="none" d="M0 0h24v24H0V0z"></path><path d="M15.5 14h-.79l-.28-.27A6.471 6.471 0 0 0 16 9.5 6.5 6.5 0 1 0 9.5 16c1.61 0 3.09-.59 4.23-1.57l.27.28v.79l5 4.99L20.49 19l-4.99-5zm-6 0C7.01 14 5 11.99 5 9.5S7.01 5 9.5 5 14 7.01 14 9.5 11.99 14 9.5 14z"></path><path d="M12 10h-2v2H9v-2H7V9h2V7h1v2h2v1z"></path></svg></button><div class="tooltip font-16" data-testid="Tooltip">Open full sized image<div data-popper-arrow="true"></div></div></div><div class="font-serif text-gray-700 mt-5 font-14 text-left">AIBO entertainment robot, model ERS-111.</div><div class="font-serif text-gray-700 mt-5 font-12 font-italic mb-10 text-left">Courtesy of Sony Electronics Inc.</div></div></div><section class="HTMLContent_HTMLContent__cOyPs" data-testid="HTMLContent"><p>In 2005, following further disappointing annual financial reports, <span id="ref893455" /><a href="/money/Howard-Stringer">Howard Stringer</a> was elevated from chairman and <a href="/money/chief-executive-officer">chief executive officer</a> of Sony Corporation of America to chairman and chief executive officer of Sony Corporation. Although the appointment of a non-Japanese to head the parent company surprised many, some two-thirds of Sony’s employees worldwide were non-Japanese. In 2009 Stringer also became president of Sony’s electronics division.</p><p>In an effort to revive Sony, Stringer focused on streamlining operations and lowering costs. The company continued to struggle, however, posting record losses as Sony’s key consumer electronics sector declined. In 2012 Stinger stepped down from his various posts and was succeeded by Hirai Kazuo, an executive in the company’s video game division. Under his leadership, Sony concentrated on consumer electronics while undertaking numerous cost-cutting measures, including selling various real-estate holdings. Notably, in 2013 Sony sold its U.S. headquarters in New York City for more than $1 billion.</p></section><span class="Signature_signature__PzeTY d-block border-left font-italic pb-5 pl-10 mt-10 font-14" data-testid="Signature"><a href="/money/author/Mark-Hall/4349">Mark Hall</a></span><span class="Signature_signature__PzeTY d-block border-left font-italic pb-5 pl-10 mt-10 font-14" data-testid="Signature"><a href="/money/author/The-Editors-of-Encyclopaedia-Britannica/4419">The Editors of Encyclopaedia Britannica</a></span><section class="HTMLContent_HTMLContent__cOyPs" data-testid="HTMLContent"><h2 class="h2">References</h2><span id="ref554596-references"/></section><section class="HTMLContent_HTMLContent__cOyPs" data-testid="HTMLContent"><p><span class="text-smallcaps">Morita Akio</span>, <span class="text-smallcaps">Edwin M. Reingold</span>, and <span class="text-smallcaps">Mitsuko Shimomura</span> (<span class="text-smallcaps">Shimomura Mitsuko</span>), <em>Made in Japan: Akio Morita and Sony</em> (1986, reissued 1994), part autobiography, part business history, and part management primer, gives clear insight into Sony at the peak of its influence, when “Japan Inc.” was a feared economic rival of the United States and Western Europe. In <span class="text-smallcaps">John Nathan</span>, <em>Sony: The Private Life</em> (1999, reissued 2001), numerous current and past executives and employees open up to the author on details of Sony’s business and product development decisions.</p></section><span class="Signature_signature__PzeTY d-block border-left font-italic pb-5 pl-10 mt-10 font-14" data-testid="Signature"><a href="/money/author/Mark-Hall/4349">Mark Hall</a></span></div></div><aside class="d-none d-lg-block cm-right-rail col-da-320 z-1" data-testid="RightRail"></aside></div><div data-page-index="1" data-testid="PageSentinel"></div></div></main><footer class="Footer_Footer__h6k1G text-align-center pb-100" data-testid="Footer"><div class="pt-30 pt-md-40 mx-25 mx-md-0"><a href="/money"><img loading="lazy" src="https://cdn.britannica.com/money/assets/Money-475x60-footer-2x.png?h=47&w=390" alt="Britannica Money Logo" data-testid="IrisImage"/></a></div><div class="Footer_SubLinks__z2QDt my-30 font-weight-semi-bold 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Ibuka, whose \u003ca href=\"/place/Japan\"\u003eJapan\u003c/a\u003e Precision Instruments Company had supplied electronic devices during \u003ca href=\"/event/World-War-II\"\u003eWorld War II\u003c/a\u003e, and Morita, an applied sciences instructor, had met during World War II as engineers designing heat-seeking missiles for the Imperial Japanese Army. Ibuka and Morita worked together for the next 40 years in what has been called one of “business history’s most productive and intriguing relationships.” Ibuka’s genius with product development and Morita’s mastery of business management and marketing turned Sony into one of the most renowned brand names on the globe. \u003cem\u003eSony\u003c/em\u003e, which became the official name for the company in January 1958, was derived from the Latin \u003cem\u003esonus\u003c/em\u003e (“sound”) and was conceived to be an international and not a Japanese term.\u003c/p\u003e\u003c!--[P-2]--\u003e\u003cp\u003eThe company’s first consumer product was an electric rice cooker. Although this product sold poorly, Totsuko, as the firm’s name was abbreviated, did have a successful business repairing radios and other electrical equipment. Its repair work for the Japanese radio broadcaster \u003ca href=\"/money/Nippon-Hoso-Kyokai\"\u003eNHK\u003c/a\u003e had to be approved by the U.S. army of occupation, which later gave the young company repair jobs of its own.\u003c/p\u003e\u003c!--[P-3]--\u003e\u003cp\u003eIn 1950 Totsuko introduced the first Japanese-designed \u003ca href=\"/technology/tape-recorder\"\u003etape recorder\u003c/a\u003e. Although this consumer item also sold poorly, the company’s fortunes were about to take a dramatic turn. In 1952 Ibuka visited the United States and made the initial contacts for licensing the \u003ca href=\"/technology/transistor\"\u003etransistor\u003c/a\u003e from \u003ca href=\"/money/Bell-Laboratories\"\u003eBell Laboratories\u003c/a\u003e, then a division of \u003ca href=\"/money/Western-Electric-Company-Inc\"\u003eWestern Electric Company\u003c/a\u003e, the \u003ca href=\"/technology/manufacturing\"\u003emanufacturing\u003c/a\u003e arm of \u003ca href=\"/money/ATandT-Corporation\"\u003eAmerican Telephone \u0026amp; Telegraph\u003c/a\u003e (AT\u0026amp;T). The next year Morita went to the United States and signed the deal with Western Electric.\u003c/p\u003e\u003c!--[P-4]--\u003e\u003cp\u003eThis watershed agreement led to Totsuko’s first hugely successful product line: \u003cspan id=\"ref893450\" /\u003e\u003ca href=\"/technology/transistor-radio\"\u003etransistor radios\u003c/a\u003e. Although \u003ca href=\"/money/Texas-Instruments-Incorporated\"\u003eTexas Instruments Incorporated\u003c/a\u003e was first to market with its Regency transistor radio in 1955, it was Sony’s \u003cspan id=\"ref893448\" /\u003eTR-63, an inexpensive shirt-pocket-sized all-transistor radio, that caught consumers’ attention when it was released in 1957. Sony’s \u003cspan id=\"ref893446\" /\u003epocket radios were a tremendous success and brought international recognition of the company’s \u003ca href=\"/money/trademark\"\u003ebrand name\u003c/a\u003e.\u003c/p\u003e\u003c!--[P-5]--\u003e\u003cspan id=\"ref280842\" data-level=\"1\" /\u003e\u003ch2 class=\"h2\"\u003eElectronics giant\u003c/h2\u003e\u003cp\u003eBy 1960 business in the United States had prompted the creation of \u003cspan id=\"ref893454\" /\u003e\u003ca href=\"/topic/Sony-Corporation-of-America\"\u003eSony Corporation of America\u003c/a\u003e, with headquarters in \u003ca href=\"/place/New-York-City\"\u003eNew York City\u003c/a\u003e. When the company opened its store on Fifth Avenue in 1962, it unfurled the first Japanese flag to be flown in the United States since the beginning of World War II.\u003c/p\u003e\u003c!--[P-6]--\u003e\u003cp\u003eAt the 1964 \u003ca href=\"/topic/New-York-World\"\u003eNew York World’s\u003c/a\u003e Fair, Sony introduced the MD-5, the first all-transistor desktop calculator. In 1968 the company shipped its first Trinitron colour \u003ca href=\"/technology/television-technology\"\u003etelevision\u003c/a\u003e. By 1971, 40 percent of Japanese households had \u003ca href=\"/technology/color-television\"\u003ecolour television\u003c/a\u003e sets, so Sony introduced the first colour \u003cspan id=\"ref117686\" /\u003e\u003ca href=\"/technology/video-tape-recorder\"\u003evideo\u003c/a\u003e \u003cspan id=\"ref117687\" /\u003e\u003ca href=\"/technology/videocassette-recorder\"\u003ecassette recorder\u003c/a\u003e (VCR), which led to its introduction of the Betamax \u003ca href=\"/technology/videocassette-recorder\"\u003eVCR\u003c/a\u003e in 1975. The Betamax, though widely considered the best VCR technology ever developed, was more expensive than its competitor, the VHS (Video Home System). As more and more studios and video stores turned to VHS, Betamax lost market share, and Sony finally introduced its own VHS in 1988.\u003c/p\u003e\u003c!--[P-7]--\u003e\u003cp\u003eIn 1979 the Sony Walkman portable tape player hit the streets. Although Sony’s engineers were skeptical about designing a device that could only play and not record, Morita insisted on developing the product, saying he would resign if the Walkman was not a success. The Walkman was an international sensation and eventually sold hundreds of millions of units. The first \u003ca href=\"/technology/compact-disc\"\u003ecompact disc\u003c/a\u003e (CD) player emerged in 1982 from a development agreement between Sony and Dutch manufacturer \u003ca href=\"/money/Philips\"\u003ePhilips Electronics NV\u003c/a\u003e. Sony provided pulse-code modulation technology and combined it with Philips’s laser system. The failure of Betamax had taught Sony a lesson; the format standard for CDs (and later digital videodiscs [DVDs]) was agreed upon by a wide range of companies in Japan, Europe, and \u003ca href=\"/place/North-America\"\u003eNorth America\u003c/a\u003e. The next year Sony introduced the first camcorder.\u003c/p\u003e\u003c!--[P-8]--\u003e"])</script><script>self.__next_f.push([1,"1a:T96d,"])</script><script>self.__next_f.push([1,"\u003cspan id=\"ref280843\" data-level=\"1\" /\u003e\u003ch2 class=\"h2\"\u003eDiversification and downturn\u003c/h2\u003e\u003cp\u003eBy the late 1980s, Sony executives, especially the company president and the chairman of Sony Corporation of America, Norio Ohga, wanted to add entertainment content to Sony’s operations. In 1988 it bought \u003cspan id=\"ref263329\" /\u003e\u003ca href=\"/topic/CBS-Records-Group\"\u003eCBS Records Group\u003c/a\u003e from CBS Inc. (now \u003ca href=\"/money/CBS-Corporation\"\u003eCBS Corporation\u003c/a\u003e), thus acquiring the world’s largest record company, and the next year it purchased \u003cspan id=\"ref263330\" /\u003e\u003ca href=\"/money/Columbia-Pictures-Entertainment-Inc\"\u003eColumbia Pictures Entertainment, Inc.\u003c/a\u003e The \u003cspan id=\"ref117688\" /\u003e\u003ca href=\"/topic/Columbia-Records\"\u003eColumbia\u003c/a\u003e acquisition, the largest to that time of an American company by a Japanese firm, ignited a controversy in the United States. The controversy was fanned by Morita’s contribution to “No to ieru Hihon” (“The Japan That Can Say No”), an essay written with Japanese nationalist \u003ca href=\"/biography/Ishihara-Shintaro\"\u003eIshihara Shintarō\u003c/a\u003e in 1989. They claimed that Japan no longer depended on the United States and was a stronger, better nation than its postwar ally.\u003c/p\u003e\u003c!--[P-9]--\u003e\u003cp\u003eThe early 1990s were difficult years for Sony. The Japanese economy entered a decadelong recession, and both Ibuka and Morita suffered strokes (in 1992 and 1993, respectively). Morita officially retired in 1994 and died in 1999. With its founders no longer at the controls, Sony declared its first loss, more than $200 million, in 1993. Despite the business turmoil, Sony continued to design and deliver new products. In 1994 its entertainment division introduced its \u003ca href=\"/topic/PlayStation\"\u003ePlayStation\u003c/a\u003e \u003ca href=\"/topic/electronic-game\"\u003evideo game\u003c/a\u003e console to the Japanese market. By 2002 the game unit was contributing more than 10 percent of the company’s yearly revenues. Another major profit centre was Sony Online Entertainment, particularly its Internet \u003ca href=\"/technology/virtual-reality\"\u003evirtual reality\u003c/a\u003e game EverQuest. The company’s entertainment group also captured the imagination of many people with its robot dog, AIBO, introduced in 1999. In 1997 Sony introduced the VAIO line of personal computers. The VAIO was a high-quality and expensive system that the company marketed to users interested in developing or playing multimedia programs.\u003c/p\u003e\u003c!--[P-10]--\u003e"])</script><script>self.__next_f.push([1,"1b:T4b5,\u003cp\u003eIn 2005, following further disappointing annual financial reports, \u003cspan id=\"ref893455\" /\u003e\u003ca href=\"/money/Howard-Stringer\"\u003eHoward Stringer\u003c/a\u003e was elevated from chairman and \u003ca href=\"/money/chief-executive-officer\"\u003echief executive officer\u003c/a\u003e of Sony Corporation of America to chairman and chief executive officer of Sony Corporation. Although the appointment of a non-Japanese to head the parent company surprised many, some two-thirds of Sony’s employees worldwide were non-Japanese. In 2009 Stringer also became president of Sony’s electronics division.\u003c/p\u003e\u003c!--[P-11]--\u003e\u003cp\u003eIn an effort to revive Sony, Stringer focused on streamlining operations and lowering costs. The company continued to struggle, however, posting record losses as Sony’s key consumer electronics sector declined. In 2012 Stinger stepped down from his various posts and was succeeded by Hirai Kazuo, an executive in the company’s video game division. Under his leadership, Sony concentrated on consumer electronics while undertaking numerous cost-cutting measures, including selling various real-estate holdings. Notably, in 2013 Sony sold its U.S. headquarters in New York City for more than $1 billion.\u003c/p\u003e\u003c!--[P-12]--\u003e"])</script><script>self.__next_f.push([1,"7:[\"$\",\"$L18\",null,{\"initialArticle\":{\"contentInfo\":{\"contentId\":\"1-554596-1\",\"browserTitle\":\"Sony | History, Products, \u0026 Facts\",\"metaDescription\":\"Sony, major Japanese manufacturer of consumer electronics products.\",\"description\":\"Sony, major Japanese manufacturer of consumer electronics products whose diverse activities have included films, music, and financial services, among other ventures. It has been one of the most successful and multifaceted brands in marketing history. 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bil.\"]}],[{\"title\":\"Annual revenue:\",\"contents\":[\"$$13.15 tr.\"]}],[{\"title\":\"Earnings per share (prev. year):\",\"contents\":[\"$$1.21\"]}],[{\"title\":\"Sector:\",\"contents\":[\"Consumer Discretionary\"]}],[{\"title\":\"Industry:\",\"contents\":[\"Household Durables\"]}],[{\"title\":\"CEO:\",\"contents\":[\"Mr. Kenichiro Yoshida\"]}]]}},{\"type\":\"RECENT_NEWS_MODULE\",\"position\":0,\"content\":[{\"newsId\":\"3938310\",\"date\":{\"formattedShortDate\":\"Nov. 26, 2024\",\"formattedDateTime\":\"Nov. 26, 2024, 2:22 AM ET\",\"ms\":1732605779000,\"formattedLongDate\":\"November 26, 2024\",\"utcms\":1732605779000,\"formattedUTCDateTime\":\"Nov. 26, 2024, 7:22 AM UTC\"},\"headline\":\"Sony Is Developing A Handheld, Standalone PlayStation, Says Report\",\"summary\":\"\\\"It’s said that the device builds on the PlayStation Portal, which was originally designed as something akin to this before moving to streaming.\\\"\",\"newsUrl\":\"https://www.forbes.com/sites/paultassi/2024/11/25/sony-is-developing-a-handheld-standalone-playstation-says-report/\",\"source\":\"Forbes\"},{\"newsId\":\"3948408\",\"date\":{\"formattedShortDate\":\"Nov. 25, 2024\",\"formattedDateTime\":\"Nov. 25, 2024, 4:30 AM ET\",\"ms\":1732527039000,\"formattedLongDate\":\"November 25, 2024\",\"utcms\":1732527039000,\"formattedUTCDateTime\":\"Nov. 25, 2024, 9:30 AM UTC\"},\"headline\":\"Sony Working on Handheld Console for PS5 Games to Rival Switch\",\"summary\":\"capcha\",\"newsUrl\":\"https://www.bloomberg.com/news/articles/2024-11-25/sony-working-on-new-handheld-console-for-ps5-games-to-rival-nintendo-s-switch\",\"source\":\"Bloomberg\"},{\"newsId\":\"3915243\",\"date\":{\"formattedShortDate\":\"Nov. 20, 2024\",\"formattedDateTime\":\"Nov. 20, 2024, 11:04 PM ET\",\"ms\":1732161877000,\"formattedLongDate\":\"November 20, 2024\",\"utcms\":1732161877000,\"formattedUTCDateTime\":\"Nov. 21, 2024, 4:04 AM UTC\"},\"headline\":\"Legendary Entertainment and Sony Pictures Ending Distribution Deal\",\"summary\":\"\\\"The pact will expire at the end of the year, although Sony will still reportedly handle the release of the summer R-rated comedy 'Animal Friends.\\\"\",\"newsUrl\":\"https://www.hollywoodreporter.com/movies/movie-news/legendary-sony-ending-distribution-deal-1236068116/\",\"source\":\"The Hollywood Reporter\"},{\"newsId\":\"3912135\",\"date\":{\"formattedShortDate\":\"Nov. 19, 2024\",\"formattedDateTime\":\"Nov. 19, 2024, 10:59 PM ET\",\"ms\":1732075148000,\"formattedLongDate\":\"November 19, 2024\",\"utcms\":1732075148000,\"formattedUTCDateTime\":\"Nov. 20, 2024, 3:59 AM UTC\"},\"headline\":\"Exclusive: Sony is in talks to buy media powerhouse behind 'Elden Ring'\",\"summary\":\"HTTP Status Code: 401\",\"newsUrl\":\"https://www.reuters.com/markets/deals/sony-talks-buy-media-powerhouse-behind-elden-ring-sources-say-2024-11-19/\",\"source\":\"Reuters\"},{\"newsId\":\"3873923\",\"date\":{\"formattedShortDate\":\"Nov. 13, 2024\",\"formattedDateTime\":\"Nov. 13, 2024, 6:04 PM ET\",\"ms\":1731539058000,\"formattedLongDate\":\"November 13, 2024\",\"utcms\":1731539058000,\"formattedUTCDateTime\":\"Nov. 13, 2024, 11:04 PM UTC\"},\"headline\":\"‘Idle Hands’ Star Devon Sawa Reacts to Finn Wolfhard’s Planned Reboot\",\"summary\":\"\\\"'Idle Hands' star Devon Sawa shared his reaction to Finn Wolfhard writing a reboot movie of the horror-comedy film for Sony.\\\"\",\"newsUrl\":\"https://www.hollywoodreporter.com/movies/movie-news/idle-hands-devon-sawa-finn-wolfhard-sony-reboot-1236061568/\",\"source\":\"The Hollywood Reporter\"}]},{\"type\":\"HTML\",\"content\":\"\u003cspan id=\\\"ref554596-1\\\" data-level=\\\"1\\\" /\u003e\u003cp\u003e\u003cstrong\u003e\u003cspan id=\\\"ref117685\\\" /\u003eSony\u003c/strong\u003e, major Japanese manufacturer of consumer \u003ca href=\\\"/technology/electronics\\\"\u003eelectronics\u003c/a\u003e products whose diverse activities have included films, \u003ca href=\\\"/art/music\\\"\u003emusic\u003c/a\u003e, and financial services, among other ventures. It has been one of the most successful and multifaceted \u003ca href=\\\"/money/brand\\\"\u003ebrands\u003c/a\u003e in marketing history.\u003c/p\u003e\u003c!--[P-1]--\u003e\"},{\"type\":\"HTML\",\"content\":\"$19\"},{\"type\":\"ASSEMBLIES\",\"assemblies\":[{\"type\":\"IMAGE\",\"description\":\"PHOTO\",\"id\":51013,\"title\":\"Sony Walkman\",\"caption\":\"The original model of the Sony Walkman, 1979.\",\"credit\":\"Courtesy of Sony Electronics Inc.\",\"url\":\"https://cdn.britannica.com/55/58555-050-BCCFB1B6/cassette-tape-player-Sony-Walkman-1979.jpg\",\"width\":1366,\"height\":1600,\"altText\":\"Sony Walkman\"}]},{\"type\":\"HTML\",\"content\":\"$1a\"},{\"type\":\"ASSEMBLIES\",\"assemblies\":[{\"type\":\"IMAGE\",\"description\":\"PHOTO\",\"id\":55522,\"title\":\"entertainment robot\",\"caption\":\"AIBO entertainment robot, model ERS-111.\",\"credit\":\"Courtesy of Sony Electronics Inc.\",\"url\":\"https://cdn.britannica.com/88/65188-050-62028745/ERS-111-AIBO.jpg\",\"width\":1600,\"height\":1124,\"altText\":\"entertainment robot\"}]},{\"type\":\"HTML\",\"content\":\"$1b\"},{\"type\":\"SIGNATURE\",\"editor\":false,\"link\":{\"title\":\"Mark Hall\",\"url\":\"/author/Mark-Hall/4349\"}},{\"type\":\"SIGNATURE\",\"editor\":false,\"link\":{\"title\":\"The Editors of Encyclopaedia Britannica\",\"url\":\"/author/The-Editors-of-Encyclopaedia-Britannica/4419\"}},{\"type\":\"HTML\",\"content\":\"\u003ch2 class=\\\"h2\\\"\u003eReferences\u003c/h2\u003e\u003cspan id=\\\"ref554596-references\\\"/\u003e\"},{\"type\":\"HTML\",\"content\":\"\u003cp\u003e\u003cspan class=\\\"text-smallcaps\\\"\u003eMorita Akio\u003c/span\u003e, \u003cspan class=\\\"text-smallcaps\\\"\u003eEdwin M. Reingold\u003c/span\u003e, and \u003cspan class=\\\"text-smallcaps\\\"\u003eMitsuko Shimomura\u003c/span\u003e (\u003cspan class=\\\"text-smallcaps\\\"\u003eShimomura Mitsuko\u003c/span\u003e), \u003cem\u003eMade in Japan: Akio Morita and Sony\u003c/em\u003e (1986, reissued 1994), part autobiography, part business history, and part management primer, gives clear insight into Sony at the peak of its influence, when “Japan Inc.” was a feared economic rival of the United States and Western Europe. In \u003cspan class=\\\"text-smallcaps\\\"\u003eJohn Nathan\u003c/span\u003e, \u003cem\u003eSony: The Private Life\u003c/em\u003e (1999, reissued 2001), numerous current and past executives and employees open up to the author on details of Sony’s business and product development decisions.\u003c/p\u003e\u003c!--[P-13]--\u003e\"},{\"type\":\"SIGNATURE\",\"editor\":false,\"link\":{\"title\":\"Mark Hall\",\"url\":\"/author/Mark-Hall/4349\"}}],\"tocItems\":[{\"title\":\"Introduction\",\"url\":\"/money/Sony\",\"tocId\":\"554596-1\",\"level\":1,\"subSection\":[]},{\"title\":\"Rice cookers to transistor radios\",\"url\":\"/money/Sony#ref280841\",\"tocId\":\"280841\",\"level\":1,\"subSection\":[]},{\"title\":\"Electronics giant\",\"url\":\"/money/Sony#ref280842\",\"tocId\":\"280842\",\"level\":1,\"subSection\":[]},{\"title\":\"Diversification and downturn\",\"url\":\"/money/Sony#ref280843\",\"tocId\":\"280843\",\"level\":1,\"subSection\":[]},{\"title\":\"References\",\"url\":\"/money/Sony#ref554596-references\",\"tocId\":\"554596-references\",\"level\":1,\"subSection\":[]}],\"iguideLinks\":{\"EBI\":[{\"title\":\"Sony Corporation - Student Encyclopedia (Ages 11 and up)\",\"url\":\"https://kids.britannica.com/students/article/Sony-Corporation/313613\",\"noFollow\":false,\"newTab\":true,\"type\":\"EBI\",\"date\":null}],\"EXTERNAL\":[{\"title\":\"Official Site of Sony Corporation\",\"url\":\"https://www.sony.net/\",\"noFollow\":true,\"newTab\":true,\"type\":\"EXTERNAL\",\"date\":{\"formattedShortDate\":\"Aug. 31, 2012\",\"formattedDateTime\":\"Aug. 31, 2012, 12:54 AM ET\",\"ms\":1346388886000,\"formattedLongDate\":\"August 31, 2012\",\"utcms\":1346388886000,\"formattedUTCDateTime\":\"Aug. 31, 2012, 4:54 AM UTC\"}},{\"title\":\"Companies History - Sony\",\"url\":\"https://www.companieshistory.com/sony/\",\"noFollow\":false,\"newTab\":true,\"type\":\"EXTERNAL\",\"date\":{\"formattedShortDate\":\"Oct. 03, 2019\",\"formattedDateTime\":\"Oct. 3, 2019, 7:51 PM ET\",\"ms\":1570146694000,\"formattedLongDate\":\"October 03, 2019\",\"utcms\":1570146694000,\"formattedUTCDateTime\":\"Oct. 3, 2019, 11:51 PM UTC\"}}]},\"pageIds\":null,\"contentIds\":[\"1-2234862-1\",\"1-2218495-1\",\"1-915871-1\",\"1-2221313-1\",\"1-369596-1\",\"1-1482535-1\",\"1-1775264-1\",\"1-764194-1\",\"1-378825-1\",\"1-2247934-1\"],\"relatedContents\":[{\"title\":\"Microsoft Corporation\",\"url\":\"/money/Microsoft-Corporation\",\"description\":\"Microsoft Corporation is an American multinational technology company that has been a key player in the computer industry since its founding in 1975. Headquartered in Redmond, Washington, Microsoft initially gained dominance in the operating systems market during the 1980s and ’90s with MS-DOS and\",\"image\":{\"type\":\"IMAGE\",\"description\":\"PHOTO\",\"id\":null,\"title\":null,\"caption\":null,\"credit\":\"© JEFF CHRISTENSEN —AFP/Getty Images\",\"url\":\"https://cdn.britannica.com/71/103171-050-D6D9D227/Bill-Gates-Microsoft-Corporation-operating-system-press-2001.jpg\",\"width\":null,\"height\":null,\"altText\":\"Bill Gates\"},\"contentId\":\"1-380624-1\",\"subTitle\":\"American company\",\"category\":{\"id\":13708,\"parentId\":13700,\"title\":\"Information Technology\",\"description\":\"The growth-oriented tech sector makes and services semiconductors, cell phones, computer hardware and software, and services such as cloud computing. 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PHG Philips \u0026 Company was founded in 1891 by Frederik\",\"image\":{\"type\":\"IMAGE\",\"description\":\"PHOTO\",\"id\":null,\"title\":null,\"caption\":null,\"credit\":\"© Sem van der Wal/ANP—AFP/Getty Images\",\"url\":\"https://cdn.britannica.com/53/262453-050-3136A2E3/Philips-company-headquarters-Amsterdam-Netherlands.jpg\",\"width\":null,\"height\":null,\"altText\":\"Logo of Philips on the company headquarters building in Amsterdam, Netherlands. Photographed in 2022.\"},\"contentId\":\"1-456530-1\",\"subTitle\":\"Dutch manufacturer\",\"category\":{\"id\":13706,\"parentId\":13700,\"title\":\"Health Care\",\"description\":\"The health care sector includes pharmaceuticals, medical devices, biotechnology, and health insurance companies. 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