Tuesday, February 11, 2014

Sony is quitting the PC & laptop business

Sony issued a press release stating it's selling the PC & VAIO brand and focusing more on their tablet and smartphone line of business (Xperia).

"Sony and Japan Industrial Partners Inc. ("JIP") today concluded a memorandum of understanding confirming the parties' intent for Sony to sell to JIP Sony's PC business currently operated under the VAIO brand. "

 Japan Industrial Partners (JIP) will use the VAIO brand focusing sales on the Japanese market only. This move follows Sony's financial losses and decrease of sales in the laptops & consumer-electronics market. According to MarketWatch, Moody's Investors Service had Sony's bond rating cut to junk status.

Source: Sony press release

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