Sony to close last US TV factory

11.12.2008

With the announcement of the Pittsburgh closure the spotlight now moves to Japan. Sony said two of the planned factory closures would be overseas so the remaining 3 or 4 factories yet-to-be-announced will be domestic plants.

Sony has been dealt a double-blow by the current harsh economic conditions. A recession in its biggest markets is hitting sales and the strong Japanese yen is cutting into profits on products it does sell. In reaction to the appreciation of the yen Sony said it will be forced to hike some product prices in 2009.