In a public move that will probably make more sense in Japan than it will here, Sony Corp. said on Tuesday that seven top executives will return their fiscal 2011 performance-linked bonuses. The executives affected by this decision include their former CEO Howard Stringer and current CEO Kazuo Harai.
In yet another sign of the decline of a once seemingly invincible technological powerhouse, shares in Sony Corp. in Tokyo closed Monday below ¥1,000 ($12.76) per share – setting a disturbing new record low. The last time the stock was this low was August 1, 1980 – 32 years ago. The press in Japan took notice and newspapers couldn’t help but point to the development as a symbol of an industry slump that is changing the world’s view of Japan’s technological prowess.
Why do analysts think this happened?…
<February 1, 2012> In typical fashion, Sony Corporation at CES delivered a long and at times rambling press conference covering their large range of products. And while presenters tried to sound enthusiastic about their many innovations, much of this year’s presentation mimicked last year’s…and even those of its competitors. [Read more…] about Sony Says Only They Can Deliver ‘The New User Experience’