PSP News: Sony Returning To Its Roots - PSP News

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Sony Returning To Its Roots

Although many gamers associate Sony with their favorite hobby, the company certainly has their hands in a bunch of other products. In an effort to refocus on its core consumer electronics business, Sony has recently announced that it will be reducing its stake in StyleLife Holdings, the holding company for Sony's retail business.

The corporation had previously held a 49% stake of all outstanding shares in StyleLife, but now, Sony is selling off 26% of those shares. The massive business transaction should yield a profit of approximately nine billion yen.

In recent months, Sony has fallen behind in certain areas, such as digital music players and flat-screen televisions (not to mention the PS3 production issues), so now it seems they're taking a step back and returning to their roots. Most view the move as a way of keeping Sony at or near the top of the food chain as a global electronics leader.

12/5/2006 Ben Dutka

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