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There’s more to Sony’s problems than acts of God and currency traders. The maker of the Walkman and the Trinitron hasn’t driven pop culture for years. Sony thrived in an era of stand-alone electronics. When the Internet arose and digital began to mean connected, iPods became the center of people’s entertainment lives, then smartphones and tablets—which Sony was late to produce. Even the quintessential Sony product—the TV set—has become a millstone. Sony has lost nearly $8.5 billion on TVs over eight years and expects to keep losing at least into 2013. Samsung, Vizio, and other upstarts have driven prices so low that one Sony executive says the company charges less for some TVs than it cost to ship them a few years ago.

“What Is Sony Now?” — Bryan Gruley and Cliff Edwards, Bloomberg Businessweek