Sony selling US office for $1.1 billion

@uglypinkmoose That is not the case at all. Sony has been in decline since about early 2000. This was at a time when Sony ruled the roost in certain markets like computer games with the Playstation and portable music players with the Walkman.

However, it has failed to either compete or new entrants have entered the market with similar, better products i.e. iPod and Xbox. It has also seen competition increase in other markets such as TVs, in particular Samsung and LG, who offer similar products but at a lower cost.

Selling the building is probably part of a restructuring exercise meant to reduce costs. Japan's economy as well has seen a number of factors hit it hard including a decline in the yen to natural disasters.

BTW this isn't a rant just type Sony in Google's news search and you will see Sony's downfall documented.

@thequickshooter Nope, just financial stuff.  Sounds like they're selling the building and then renting it from the buyer for up to 3 years.

@Master_Overlord 

Depends on what you mean by that. I don't think it too unlikely that in the next 10-20 years, Sony could possibly be involved in a merger or be sold outright to the highest bidder. Ever since Korean companies-Samsung and LG- became genuine competitors, Sony's revenues and incomes have been going down for a decade+ now, and they've even lost name brand recognition as being a luxury item compared to its competitors too. They can't beat Samsung or LG on the LCD market, they'd get crushed by Apple on the smartphone market, they don't really have too many options outside of a massive restructuring effort that would make a completely different company altogether. Their business model has essentially floundered, and they're too far behind to catch up. Japan's economy as a whole has been stagnant or recessive even longer with a diminishing population that's becoming less educated. This is likely just the beginning. 

And as big as Sony is, it's not TOO big to fail like a Toyota or a Nissan would be. Plenty of other Japanese electronics companies (toshiba, panasonic, etc...) that could absorb parts of Sony. Hell, Samsung got this big only because it absorbed its competitors in the wake of the 1997 Asian Financial Crisis. Except unlike Japan, Korea allowed its chaebol companies to fail instead of keeping its zombie companies.  

@Pyrosa Idiotic comment.

@ArataWata disgustingly greasy chicken, no thanks.

@KingofCabal Stings,,,,,,eh??

@KingofCabal 

It has to do with one of the biggest gaming companies in the World. That's why it's on here. Apple, Microsoft, Nintendo and Sony are the big shots when it comes to gaming and media for the masses. How their finances are handles means a lot to gaming companies and other business who invest in Sony.

@KingofCabal This has everything to do with gaming, open your eyes.

@essam24 

Cause they've been bleeding money dry for the past 10+ years. Sony's been a failing company for a long time. They're still massive with plenty of assets, but with no true income coming in, they need to start liquidating said assets just to fund their operation costs. Just to give you some perspective, Samsung's profits are greater than the top 10 Japanese electronic companies' profits combined. Japan's economy as a whole has been.. in not too great of a shape for a very very long time. 

@CivilizedPsycho It's business has always been in Japan. They aren't leaving those locations, they are just selling the building and then leasing the space from the new owners. Read the story.

@CivilizedPsycho I thought that too

@dRuGGeRnaUt

Not if they sell the property and bought in othet country with the exchange rate in their favoring the currency used in this case dollars

@chibi-acer Now they only care about Ridge Racer

@chibi-acer They aren't leaving the U.S. office. Yes, I definitely think they care. Well, they care about their quarterly and yearly figures more then anything else, which is why they've sold 2 buildings in less then 6 months.

@jsmoke03 you might want to re-read the article

@YYankee No loss of jobs its just people being relocated elsewhere... If your job decides to relocate it doesn't mean your laid off, it simply means you're moving. 

@YYankee I'm not sure what would lead you to think that there's going to be a loss of jobs here?