Sony Shutting Down All Retail Stores in Canada
Fewer TV and mobile phone sales has the electronics giant focusing on a national retail network and its online store.
Sony Canada will shutter all 14 of its retail stores north of the border over the next two months.
Struggling with lackluster TV and mobile phone sales, Sony Canada said in a statement on Thursday that it will shift Canadian sales to a national retail network and its online store, the CBC News website reported.
Sony Corp.'s electronics division, once the backbone of the Tokyo-based conglomerate, has looked to restore profitability by selling its Vaio computer business and spinning off its TV business into a separate entity.
Closing up shop at the retail level in Canada will cost around 90 jobs. News of the Canadian store closings also came on the same day U.S.-based Target said it was shuttering all of its 133 stores north of the border to stem big losses.