NEW YORK (TheStreet) -- Anyone doubting the shadow cast over Silicon Valley by Apple's (AAPL) late CEO Steve Jobs need only listen to Sony (SNE) chief Sir Howard Stringer's comments during a briefing this week.
"Steve Jobs spent the last six years building iTunes and I spent the last five years building a platform so I can compete with Steve Jobs -- it's finished and it's launching now," explained Stringer, pointing to his company's vast array of consumer products such as PlayStations, phones, computers and TVs. "We do have to find a way to compete with Apple when they have two products a year and we have 50."
Stringer, who was speaking at a Wall Street Journal event on Thursday, kept referring back to Jobs, citing his achievements and long-term legacy.The Sony CEO also made comparisons between his own company and Apple, which has assumed the mantle of tech's consumer trailblazer. Whereas Sony gained worldwide fame in the 1980s for its Walkman, Apple has revolutionized the modern tech landscape with its iPod, iPhone and iPad. A clear admirer of Jobs, Stringer spoke candidly of his conversations with the late Apple co-founder. "Steve once said to me 'You need to focus more,' " explained the Sony CEO. "There are too many [products]." Apple, he added, can spend five to 10 times more on marketing a product than Sony. "Eliminating products is a question that Sony has to face and it's very hard to eliminate products at Sony because you're closing businesses and laying off lots of people," said Stringer. The Japanese electronics giant has not had the easiest of times recently. Sony, for example, registered a loss in its second-quarter results last week, citing the impact of a weakening Yen and lower sales of its LCD TVs. Other challenges for Sony included the Japanese earthquake and tsunami and the floods in Thailand. "The yen, when I started as CEO was 123, and it has been down to 73 in the last few weeks," said Stringer. "Steve Jobs, with that kind of yen, and with an avalanche on western California, would have had his difficulties." Jobs, who died on Oct. 5 from complications related to pancreatic cancer, continues to loom large over the tech sector, particularly the TV market. Before his death, the late Apple co-founder told a biographer that he had "finally cracked" the challenge of creating an integrated TV set that can sync with consumer devices and iCloud. Stringer said that he had "no doubt" that Steve Jobs' next project would be a TV set, adding that Apple will come up with "a different solution" to current TV technology. "That's what we're all looking at," added the Sony CEO.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV