Sony market value slumps to lowest since release of Walkman

Sony has seen its shares drop to the lowest level since 1980 as TV sales continue to decimate its market value.

Sony’s shares fell to below 1,000 yen in Tokyo trading for the first time since the release of its Walkman, which saw the firm on its ascension to world domination.

The outlook now is somewhat bleaker, and with shares falling to 996 yen on the Tokyo Stock Exchange, declining past the level last seen on 1 August 1980, according to data put together by Bloomberg.

Japanese electronics firms have been enduring hardships with the tsunami last year, while the yen currency continues to get stronger, making life difficult for the likes of Sony, Panasonic and Sharp.

One of the main challenges facing Sony and its domestic rivals is the slump in TV sales. Sony posted a $5.7 billion yearly loss in March, with slow flat screen sales a major contributing factor.  

This has coincided with the ascent of the Korean giants like Samsung, and the picture continues to stay bleak for Sony as it attempts to turn its business around. 

Analysts recently told TechEye that it may have to accept that the game is up in the telly business as it gets outmuscled by overseas rivals.

With Sony’s TV business posting losses for the past nine years, and its overall business in the red for the past four, the Japanese firm has some tough decisions ahead if it is to stop its value declining even further.