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Sony splits TV division into three

Sony's TV business has lost money for 8 straight years

Sony is attempting to revamp its ailing television business by splitting the division into three separate parts.

The Bravia arm of the Japanese giant has posted eight straight years of losses, but the company hopes that a restructuring will give the flatscreen business a much-needed shot in the arm.

The official announcement is set to be made on Tuesday, but a report from Reuters claims that the three units will comprise of LCD, outsources and next-generation TVs.

"By dividing into three divisions, we will make clearer the mission and responsibilities of these," Sony spokeswoman Ayano Iguchi told the news agency.

No shut-down

The decision to alter strategy arrives following rumours that Sony might be considering the complete shutdown of its entire TV business, following the continued losses.

Sony's Bravia TV range has lost ground on its rivals in recent years, despite being among the highest quality sets available to buy.

However, the emergence of Samsung and budget competitors, accompanied by the premium Sony traditionally places on its products means that sales have slowed.

Sony will announce its quarterly results on Wednesday.

Via: Reuters