Sony has seen its TV division lose a lot momentum in the past 2 decades. The TV division used to be a key area for Sony where they made high quality, long lasting products, but their market was eroded by LG, Samsung and others. This was mainly due to the fact that the prices for the competition was lower than that of Sony and the products also had more features.
The decline in its sales has led to Sony reporting losses for the past 5 years. The senior management have made major structural changes in order to save money from various departments and this involved staff layoffs as well as closure of offices in different countries. Sony has made its first annual profit in May 2013 for over 5 years due to the changes they made. The CEO had changed to Kazuo Hirai, who was the head of the gaming division, and he is changing the strategy of the company to allow features to work on multiple devices.