Sony will focus and increase it’s overall value, as the company has decided to change the name after 62 years:

Sony corporation will make some series of changes to its organization structure, Financial services and the biggest of all name change.

Effective from April 1, 2021, all these changes will be made as the company said in a press release on May 19, 2020. These changes are made with the objective to increasing the overall value of the Sony corporation from a long-term perspective, the key missions of Sony Corporation will be: 1-business portfolio management & strategic capital allocation, 2-value creation through Group synergies and business incubation, and 3-investment in the talent and technology that form the foundations of innovation.

From the next fiscal ‘sony corporation’ will be renamed as ‘sony group corporation’, sony electronics corporation which deals with the sony origin business(electronic products) will succeed to the name ‘sony corporation’ and few other changes to its financial Services and executive structure reform.

Sony has faced some issues with the competitor in the past decade. Since the number of the competitor in the electronic segment has gone drastically high, the company’s total market share in the mobile phone and camera segment has almost touched the rock bottom. All these things made the company to rethink its business idea and started diversifying its business. They bought ten sports form zee for $385 million, sony pictures move toward spider man in 2019 and the recent announcement made by the company surprised the CSE by announcing the sony vision generation of electronic vehicle form sony in January 2020, all these are done to increase its business portfolio in order to sustain in the competition. What do you say is sony really making good decisions? Share your thought in the comment section below.