When you think Sony, the first thing that pops to mind are its line of electronic gadgets. According to The New York Times' Hiroko Tabuchi, Sony "loses money on almost every gadget it sells." The real bread and butter of the company? Selling insurance.
Although Sony sells hundreds of products as varied as batteries and head-mounted 3-D displays, it so happens that Sonys most successful business is selling insurance. While it doesnt run this business in the United States or Europe, Sony makes a lot of money writing life, auto and medical policies in Japan.
Its financial arm accounts for 63 percent of Sonys total operating profit last year. Life insurance has been its biggest moneymaker over the last decade, earning the company 933 billion yen ($9.07 billion) in operating profit in the 10 years that ended in March.
Sonys film and music divisions, which produced hits like the Spider-Man movies and Zero Dark Thirty and recorded musicians like the cellist Yo-Yo Ma and the electronic music duo Daft Punk, have contributed $7 billion to the companys bottom line over the last decade.
In that time, Sonys electronics division has lost a cumulative $8.5 billion.
|TSA Store Sells Everything it Has Confiscated, From Snow Globes to Swiss Army Knives Sold By the Pound|
|A Judge Stands up to Wall Street|
|Seats in Economy Class Now to Get Even Smaller|
|Increased Labour Costs Could Bankrupt 9 out of 10 Chinese Companies|
|CEOs of Apple, Google and Other Tech Giants Conspired to Reduce Wages of Tech Engineers|
|“A machine meant to hurl rockets into space.”|
|Fake Name Generator|
|“Are the puppets coming for our jobs?”|
|“Research that could engineer dinosaurs back into existence within the next five to 10 years.”|
|Japanese Robot Serves Ice Cream From Inside a Vending Machine|
|How to Avoid Jury Duty|
|What Computers See When They Watch a Movie|
|“The only thing worse than assuming that carbon removal will save the day is assuming it will save the day.”|
|The (Very Scary) People of Public Transit|
|CaptchaTweet: Write Tweets in Captcha Form|
|Chinese warehouse organises, packs, and fulfills 200,000 orders a day with four people|
|David Reeves' Paper Cutouts Inspired by Classic Cult Movies|