Sony Playstation...

OverviewSony, in full Sony Corporation, major Japanese manufacturer of consumer electronics products. It also was involved in films, music, and financial services, among other ventures. The company was incorporated by Ibuka Masaru and Morita Akio in 1946 as Tokyo Tsushin Kogyo (“Tokyo Telecommunications Engineering Corporation”). Ibuka, whose Japan Precision Instruments Company had supplied electronic devices during World War II, and Morita, an applied sciences instructor, had met during World War II as engineers designing heat-seeking missiles for the Imperial Japanese Army. Ibuka and Morita worked together for the next 40 years in what has been called one of “business history’s most productive and intriguing relationships.” Ibuka’s genius with product development and Morita’s mastery of business management and marketing turned Sony into one of the most renowned brand names on the globe. Sony, which became the official name for the company in January 1958, was derived from the Latin sonus (“sound”) and was conceived to be an international and not a Japanese term. The company’s first consumer product was an electric rice cooker. Although this product sold poorly, Totsuko, as the firm’s name was abbreviated, did have a successful business repairing radios and other electrical equipment. Its repair work for the Japanese radio broadcaster NHK had to be approved by the U.S. army of occupation, which later gave the young company repair jobs of its own. In 1950 Totsuko introduced the first Japanese-designed tape recorder. Although this consumer item also sold poorly, the company’s fortunes were about to take a dramatic turn. In 1952 Ibuka visited the United States and made the initial contacts for licensing the transistor from Bell Laboratories, then a division of Western Electric Company, the manufacturing arm of American Telephone & Telegraph (AT&T). The next year Morita went to the United States and signed the deal with Western Electric. This watershed agreement led to Totsuko’s first hugely successful product line: transistor radios. Although Texas Instruments Incorporated was first to market with its Regency transistor radio in 1955, it was Sony’s TR-63, an inexpensive shirt-pocket-sized all-transistor radio, that caught consumers’ attention when it was released in 1957. Sony’s pocket radios were a tremendous success and brought international recognition of the company’s brand name.