Sony to shutter 20 retail stores in the U.S

Wed Feb 26, 2014 8:41pm IST

Alex Belfield, an event planner for Sony PlayStation, prepares a display for the PlayStation Vita as workers prepare for the 2012 International CES at the Las Vegas Convention Center in Las Vegas, Nevada, January 8, 2012.REUTERS/Steve Marcus/Files

Alex Belfield, an event planner for Sony PlayStation, prepares a display for the PlayStation Vita as workers prepare for the 2012 International CES at the Las Vegas Convention Center in Las Vegas, Nevada, January 8, 2012.

Credit: Reuters/Steve Marcus/Files

Related Topics

Stocks

   

REUTERS - Sony Corp's (6758.T)(SNE.N) electronic unit said on Wednesday it is closing 20 retail stores in the United States and cutting 1,000 jobs, as the TV and game console maker tries to stem losses and regain market share.

Sony has a total of 31 retail stores in the U.S.

The job cuts are part of a previously announced reduction of 5,000 positions globally, or just over 3 percent of its staff, and fall under a much larger reorganization that includes spinning off Sony's TV operations and putting its personal computer division on the block.

"While these moves were extremely tough, they were absolutely necessary to position us in the best possible place for future growth," Mike Fasulo, president and chief operating officer of Sony Electronics, said in a statement.

Known for its Bravia TV and Playstation game system, the Japanese company is struggling to compete against Apple (AAPL.O) and Samsung Electronics (005930.KS) that dominate the smartphone, computer and gadget market.

(Reporting by Jennifer Saba in New York; Editing by Meredith Mazzilli)

FILED UNDER:

Reuters Showcase

India Crush UAE

India Crush UAE

India cruise to easy win over UAE in Perth.  Read 

Budget 2015

Budget 2015

Full coverage of 2015/16 budget.  Full Coverage 

Sahara Saga

Sahara Saga

Some staff say Sahara has not paid salaries for months   Full Article 

Movie Review

Movie Review

"Dum Laga Ke Haisha" is rooted in reality, writes Shilpa Jamkhandikar.  Full Article | Related Story 

Nimoy Dies

Nimoy Dies

Leonard Nimoy, Star Trek's 'Mr. Spock,' dies at 83.  Full Article 

Gown Returned

Gown Returned

Lupita Nyong'o's $150,000 Oscar gown returned by thief via TMZ.  Full Article 

World Cup 2015

World Cup 2015

Full coverage of cricket world cup in Australia and New Zealand.  Full Coverage 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage