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Sony closes 20 US retail outlets

Sony yet so far
Thu Feb 27 2014, 14:55
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SONY HAS ANNOUNCED that it will close 20 retail stores in the US as its battle to stem losses continues.

In the UK, the Sony Centre remains a separate entity that licenses the brand, while the company has a total of 31 outlets in the US that will be cut by two-thirds in today's announcement.

"While these moves were extremely tough, they were absolutely necessary to position us in the best possible place for future growth," Mike Fasulo, president and COO of Sony Electronics, said in a statement.

The Japanese electronics giant has already announced the end of its Vaio range, marking an exit from PC manufacturing. It is selling its television business and is in the midst of a major restructuring as it battles to concentrate on the profitability of its core businesses. The restructuring will involve 5,000 job cuts worldwide.

The launch of the PS4 has been successful, but other areas of the business are still showing red ink that needs to be redressed to capitalise on that success. At Mobile World Congress (MWC), the firm's mobile division announced the Sony Xperia Z2, the follow-on to the well received Xperia Z1, along with a new fitness band.

Meanwhile, as Sony plans to reduce its retail presence, other brands are continuing to increase theirs in Europe, with Samsung recently having announced a partnership with Carphone Warehouse to rebrand 60 European stores with the Samsung logo. µ


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