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Sony Sells VAIO To Concentrate On Its TV Division

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Sony has decided to sell off its VAIO PC and Laptop arm to Japan Industrial Partners (JIP), the deal will be sealed at the end of March this year. The electronics company said that the demand for their computers had dropped in prior financial statements.

The company has worked hard in reforming its TV arm ad splitting it into a standalone entity by June of this year. Sony has decided to focus on those post-PC products which include smartphones and tablets. The company reported that in the third quarter of 2013 the mobile arm increased its sales, but still forecasts an annual loss of around $1.1 billion for the full year as it had previously projected a 30 billion yen profit.

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The PS4 sold 4.3 million units and 9.7 million games in its first six weeks. The games arm also saw a “dramatic increase” in PlayStation Plus subscriptions.

Sony will now focus on its high-end sets and 4K screens and hopes that changes will ensure the TV business makes a good profit in the next financial year.

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Sony will cut a total of 5,000 jobs worldwide (1,500 in Japan) by the end of the 2014 fiscal year, while the new PC company has stated that it will hire around 250 to 300 Sony employees, encompassing design, development manufacturing and sales.

The company is promising to fulfil all its aftercare warranties. Sony is signed up to invest 5 percent of the new company’s capital to support its launch and smooth over the transition. Restructuring costs across both the TV and PC segments are now set to cost an extra 20 billion yen.

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Caroline Vutagwa
Caroline Vutagwahttps://my.techmoran.com
Minding my own business is not enough for me that's why you will always find me minding Africa's Businesses as well as Technology and of course letting you know about it. Talk to me on [email protected]

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