Japan's once-mighty electronics-makers have lost billions of dollars from TVs, but Sony Corp. and Panasonic Corp. won't quit, saying retreating from the world's living rooms would close the door to more promising businesses.
Consumer electronics account for a shrinking portion of income after restructuring focused Sony on gaming and image sensors and Panasonic on electric car batteries. But TVs remain among their best-known products.
Staying in the TV market — particularly at the premium end — keeps the pair relevant and ensures their brands and quality are at the forefront when consumers shop for other electronics, they said. Sony, for example, said it sees a strong correlation between sales trends for its TVs and audio systems.