Is
Sony on the path of Kodak?
Much has been written
and discussed about Kodak in recent time for being bankrupt. Once most renowned
company Kodak in photography is struggling to survive and relevant in the
market. What went wrong that Kodak has become irrelevant in the market..... And who is next??? Will Sony follow the same
path? These are the question which runs through the mind of corporate thinkers
and Sony c-suits persons.
Sony, which once,
defined Japan’s technological prowess, wowed the world with walkman and TV and
shocked Hollywood with bold acquisition of Columbia Pictures, is now in the
fight of its life. Today Picture looks gloomy. Sony has not turned a profit
since 2008 and situation more worsening with time. The verdict of stock market
has been more brutal with share prices coming down to the level of mid-1980. Looking
over these examples its almost game over at Sony.
What went wrong with
Sony is a tale of lost opportunities. Lack of innovations and unable to adapt to
the realities of global market place are the reason for today’s situation of Sony.
Sony has been turned unanswered by
disruptive new technologies and unforeseen rivals like Samsung, Apple. Can we
remember any bold innovation in last decade from Sony? Absolutely no. Companies
like Apple are running on innovation as they understood the market well. Sony
fails here to understand the market trend. Today, we can’t recall the product
from Sony portfolio like we can recall from Apple. These companies changed themselves with the
time. Sony makes too many models, and for none of them can they say, ‘this is
contains our best, most cutting edge technology’ Apple on other hand, makes one
amazing phone in just two colours and says, this is the best. Sony needs to do
something innovative to be relevant in the market to survive.
It will be interesting
to see the new moves from new CEO Kazuo Hirai. Will he be able to turn the
fortune of Sony in coming time?
It’s not only Sony
which is reeling under pressure there are many companies which are struggling to
change with market change and need or failing on innovation part. Nokia, once
world leader in mobile devices, is struggling to maintain it’s market share and
continuously losing it.
“In Business, Satisfaction
makes you the loser. Never be satisfied if you want to be the leader”- SK
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