Sony, it is suggested, might be better off just selling insurance.
Or just making movies and music. But not electronics.
A new report from the investment banking firm Jefferies delivered a harsh assessment of Sony’s electronics business. “Electronics is its Achilles’ heel and, in our view, it is worth zero,” wrote Atul Goyal, consumer technology analyst for Jefferies, in the report, released this week.
“In our view, it needs to exit most electronics markets.”
The maker of the Walkman and the Trinitron without electronics? What would it do?
Although Sony sells hundreds of products as varied as batteries and head-mounted 3-D displays, it so happens that Sony’s most successful business is selling insurance. While it doesn’t run this business in the United States or Europe, Sony makes a lot of money writing life, auto and medical policies in Japan.