Sony...Cutting edge technology and innovation?

Not anymore. I remember Sony as a brand growing up. There were days when everyone carried around a Sony Walkman, that eventually turned into a DiscMan, and then it turned into the Mini-Disc player. The list goes on. Sony definitely innovated the way gaming consoles look nowadays (Microsoft's own Bill Gates was even thrilled when he took his new Xbox 360 to Japan and they thought it was the new PS3. Talk about flattery). I have to give them credit with the design of the PS2 and then subsequently the slimline PS2. Nice work. (I'm being sincere here).

Very recently, Sony has been in the news because of the critic they invented to push sales of a few movies back in 2001. I'm sure, by now, readers have heard of this story. (If not, check out Fabricated Film Critic Haunts Sony @ Fool.com). Now, I don't know much about the film critic industry, but a move like that seems tantamount to shady accounting to boost revenues. But that's just me.

I have to give Sony credit, though, for bringing a ton of foreign movies to DVD in the U.S. Being an avid foreign film watcher, I actually own several titles from Sony Picture Classics. I bought another one yesterday - Kung Fu Hustle (great movie by the way). Inside the DVD cover, there was an offer for a free DVD. I'm thinking "Cool. A free movie." I thought the offer would be something like "Thanks for buying Kung Fu Hustle. Include the receipt and proof of purchase and a proof of purchase of another movie listed below (i.e Karate Kid, Medallion, House of Flying Daggers, Crouching Tiger Hidden Dragon etc), and we'll send you a free Asian martial arts movie." But that wasn't how it was at all! The offer had nothing to do with Kung Fu Hustle. Here's the offer (in my own words):

Go out and buy a copy of these movies (Karate Kid, Medallion, etc etc etc) between certain dates, and then we'll give you a free movie.

I already owned some of those movies. I bought House of Flying Daggers and Crouching Tiger the day they came out on DVD. Does that mean I honestly don't qualify for this promotion because I had already previously purchased it? I mean come on! Stop being so cheap!

Sorry Sony. If this is how you show your true colors, I'm not touching your stock with a ten foot pole. Their credibility with movies should be waning. Their LCD TV and HDTV sales are forecasted to produce losses in 2006 and 2007 (see BusinessWeek article). Sony is just not the powerhouse it used to be. SNE is trading very close to 52-week lows right now.