Sony Corp. on Tuesday unveiled sweeping restructuring measures, including plans to shed 20,000 jobs and close domestic TV plants, with the consumer electronics giant struggling to reclaim a competitive edge over its rivals.
The company also announced a tieup with Samsung Electronics Co. of South Korea to produce large liquid crystal display panels used for flat-screen TVs.
The restructuring announcement by Sony, which reported a 25 percent drop in its second-quarter profit last week, had been anxiously awaited by investors, even though many details were reported by some media beforehand.