A new report from the investment banking firm Jefferies delivered a harsh assessment of Sony’s electronics business. “Electronics is its Achilles’ heel and, in our view, it is worth zero,” wrote Atul Goyal, consumer technology analyst for Jefferies, in the report, released this week.
Here is more. And oh, there is this:
…Sony’s most successful business is selling insurance. While it doesn’t 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 Sony’s 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.