Nobuyuki Idei, former chairman and group CEO of Sony Group, has died at the age of 84. The cause of death was attributed to liver failure. His passing was announced by the company on Tuesday. Idei leaves a bit of a mixed legacy, contributing greatly during the company’s formative years but leaving during a challenging time. He is a significant part of the history of the technology industry.
So Sony has just pulled a major donut – finally coming full circle. Sony Group’s CEO stood alongside Honda Motor’s CEO as the two companies announced that they were forming a joint venture with automotive manufacturing powerhouse Honda agreeing to partner with the sensor and mobile entertainment electronics king Sony to actually manufacture electric vehicles (EVs) – or what we’ve known up to this point as the Sony Vision-S vehicles. At last, our trip down the long and winding (and confusing) road has arrived at a final destination.
And with this announcement, we now have tech’s newest power couple…
See more on the Sony & Honda joint venture[Read more…] about Tech’s Newest Power Couple: Sony and Honda
New Financial Info Shows Sony Continues to Transform Biz
On the eve of closing out their current fiscal year (fiscal 2021) on March 30, 2022, Sony Group announced their latest financial results for the first nine months of the fiscal year…and included a surprising new upgrade of their forecast, now saying they’ll have a record operating profit for the year. This was a high note for the company, a company that has benefitted from consumers spending more time at home playing video games on their PlayStation, thanks to the COVID-19 pandemic.
But the company also answered the question that many – including me – had about Sony entering the automobile business via their new Sony Mobile division – and in so doing, reiterated their plan to move away from a hardware-centric business.
See more on where tech leader Sony is headed[Read more…] about Sony Forecasts a Record Profit; Says NOT Entering the Car Building Biz
Warning: A Favorite Acronym has been Co-opted
So let me start by saying there was a veritable slew of introductions at CES 2022 Media Day, which took place on Tuesday before the show opened. Most of them were incremental advancements of existing product lines. Only a couple of announcements rose above the noise to catch the attention of just about everyone who attended those presentations. One from an industry stalwart…and another from out of left field (almost literally).
See the two biggest stories from Media Day at CES 2022[Read more…] about The Two Biggest Announcements from CES 2022 Media Day Press Events
Allegations of Conspiring With China’s Gov’t to Use Uyghurs in a Forced Labor Arrangement
In a rare show of bipartisanship, a group of U.S. Senators has sent a strongly worded letter to a leading consumer electronics industry remote control maker Universal Electronics, Inc. (UEI) launching a probe into the company’s hiring practices in China. Unique to UEI is that they own their own factories in China (most contract with existing China OEM factories) and a recent damning investigation by Reuters alleges the company is working with the Chinese government to utilize a widely persecuted Uyghur minority in a forced labor arrangement, a human rights violation. UEI has denied the accusation but so far has not provided data to back up their denial.
See more on the UEI labor situation in China[Read more…] about UEI Earns Wide National News Coverage for All the Wrong Reasons
The Day After Losing 39 Exhibitors, Expo Loses Another 26
What a crazy couple of weeks it has been for exhibitors of CEDIA Expo 2021, and also for potential attendees who watched a slow-motion train wreck unfold right in front of their eyes. It was almost exactly two weeks ago – on August 10th – when Savant CEO Robert Madonna suddenly announced that Savant was pulling out of CEDIA, due to concerns over the surging infections from the Delta variant of COVID-19.
Little did we know then that this was the trickle before the flood…
See more on the saga of CEDIA Expo 2021[Read more…] about CEDIA Expo 2021: Should You Risk Your Health to Attend a ‘20% Expo’?
Crestron Electronics announced this morning that it has made “the difficult decision to fully cancel our presence” at the rapidly approaching CEDIA Expo 2021, scheduled to start in just about two weeks in Indianapolis, IN. Crestron joins a long list of exhibitors who have also decided to pull out of the event, almost all due to health and safety concerns from the dramatic increase in infections and hospitalizations as a result of the rapidly spreading COVID-19 Delta variant.
See more on Crestron pulling out of CEDIA Expo 2021[Read more…] about Crestron, the Biggest Booth in the Show, Withdraws from CEDIA Expo 2021
I have been covering the rapidly unfolding events as more announcements come every day of companies choosing to withdraw from CEDIA Expo 2021 in the wake of the surging infections from the COVID-19 Delta variant. While several large exhibitors have already announced their decision to pull out of the annual event, there are many more who are thought to be caught somewhere along the path of the decision process – a tough path to walk in an environment that is extremely fluid and changing daily.
One of the top brands rumored to be exiting the show, but has not yet officially announced anything, is Sony. But now, there is a strong reason to believe that Sony has already exited the Expo.
See the evidence that suggests that Sony is out of the Expo…[Read more…] about Sony Appears to Have Pulled Out of the CEDIA Expo 2021
Company Plans to Invest $18 Billion in ‘Strategic Investments’; See What Segments are Targeted
Sony Group announced yesterday that it will invest no less than ¥2 trillion ($18 billion) over the next three years to turbo-charge the company’s transition from a consumer electronics powerhouse to a global leader in gaming, media, and services. The only hardware they are looking to equally dominate is the sensor business – and a potential entry into the general chip-making business (more on this later).
More on the remarkable Sony global transformation[Read more…] about Sony Doubles-Down on Transformation from CE to Gaming, Media, & Services
Like the hero in their anime movie Demon Slayer, Sony has blown away investors with their latest (and probably last) revision to their fiscal year net profit estimate. Announced on Wednesday, the company now says that it forecasts that it will set a new all-time record net profit for the fiscal year that ends in March. The major reason? A shift in focus away from hardware to services and content revenues and profits.