Howard Stringer, speaking at a breakfast hosted by The Wall Street Journal, said TV manufacturers, driven by their desire to rack up market share, have bred an intensely competitive market. As a result, they are scrambling to come up with a new generation of TV sets that will separate them from the pack and command premium prices.
"There's a tremendous amount of R&D going into a different kind of TV set," said Stringer. The CEO also added that he has "no doubt" that Steve Jobs was working on a television set.
"That's what we're all looking for," said Mr. Stringer. "We can't continue selling TV sets [the way we have been]. Every TV set we all make loses money."
Sony is expecting to report a loss of over $1 billion this fiscal year, in part due to its declining TV business.