Sony spins off Walkman brand into new firm
Sony believes that there is still life in the old dog yet as it spins out its Walkman brand to a subsidiary.
Walkman, which has been around since 1989, has struggled since the inception of the iPhone.
Despite numerous Sony Ericsson Walkman phones coming out in the past, the brand struggled against its Cupertino competitor.
Bloomberg said that the move will help Sony make individual departments more responsible for its finances.
While Sony’s Walkman business might not be what it used to be, it has restructured its product to a more high-end market.
The move refashions Walkman into a premium brand that sells for about $1,200.