Sony may walk away the building that houses its U.S. headquarters and features a brand flagship store on Madison Avenue, in a bid to stem losses at the once unbeatable electronics giant, according to the Post. Philip Johnson's renowned tower on Madison Avenue is a trophy building for a company with an unassailable market position. It was built for AT&T, when the company dominated the long distance telecom market and people knew what it was like to pay for long distance calls. Sony, who became the dominant force in mobile electronics with its Walkman portable cassette player in the 1980s, purchased the tower at 550 Madison Avenue between 55th and 56th Streets in 1992. Its glass-enclosed atrium features the Sony Wonder Technology Lab and is a recommended check-in spot for New York out-of-towners and the gadget obsessed. Sony's possible move out of 350 Madison may have been telegraphed three years ago when it gave up another prime piece of real estate: it's PSP billboard on Houston Street, surrendered to H&M.
· Sony Mulls Options, Including Possible Sale of HQ [NYP]
· Sony Relinquishes Prime Real Estate [Racked]