- Sony’s new company will be focusing on consumer electronics and components business
- Shigeki Ishizuka, president of imaging products, will be the CEO of the new company
Japan-based Sony has announced the establishment of an intermediate holding company named Sony Electronics Corporation. This new company will start operations from 1st April 2020. The move looks like Sony’s attempt to group its activities and business in the components market.
“Sony Electronics Corporation will incorporate the three businesses that comprise its electronics products & solutions (EP&S) segment, imaging products & solutions, home entertainment & sound, and mobile communications and related global sales and marketing, manufacturing, logistics, procurement and engineering platforms,” read Sony’s official statement.
The company’s components have good demand in many electronics components value chains. For instance, Sony is a provider of camera sensors to many smartphone brands in the world.
Shigeki Ishizuka to be the CEO
Shigeki Ishizuka, effective 1st April 2020, will be the CEO of this intermediate company established by Sony. He will also be in charge of the company’s electronics products & solutions business, storage media business, and Sony imaging products & solutions.
The company is counted among the biggest manufacturers and suppliers of components including for TVs, video and audio devices, cameras, smartphones, game consoles and imaging and sensing solutions. Sony’s EP&S business contributed sales worth 650.4 billion Yen to Sony’s portfolio during Q3 2019. The company’s imaging & sensing solutions, on the other hand, accounted for 298.0 billion Yen worth sales in the same quarter.
“Through the establishment of Sony Electronics Corporation, Sony will not only accelerate the integrated operation of the EP&S businesses but also aim to optimize its organizational structure, talent and business portfolio, while further enhancing competitiveness and creating new business,” read Sony’s official statement.