Diversification has usually helped big corporations weather good times and bad. Conventional wisdom dictated that operating across industries and business lines meant that slowdowns in one area could be compensated for in another.
Sony Corporation originated with an electronics shop set up in 1946 in Tokyo, and was officially christened Sony in 1958. Sony gained a reputation for innovation with the launch of the Betamax videocassette recording format and the introduction of the Walkman in 1979. Although its market share has been eroded by products from Samsung Electronics and Apple.