Electronics giant Sony is understood to be reviewing its 50m European advertising account held by DDB Needham (BMP DDB in the UK).
Sony could not be reached for comment but the review is expected to begin this summer. It follows restructuring within the company as it looks for cost savings to compensate for the recession in Asia. Last week , it announced it is cutting 17,000 jobs before the end of March 2003, ten per cent of its workforce.
The review may also reflect a movement within Sony towards consolidating its advertising. In October last year, the Japanese electronics giant appointed Young & Rubicam to its US ad account. Y&R is allied to the Dentsu, which handles Sony’s account in Japan.
Sony is also thought to be planning a major global image programme known as the “Millennium Project” to unite its companies and divisions with an umbrella marketing campaign. This will be particularly important as convergence – where electro- domestic, computer and telecoms products all work together in the home – becomes more prevalent. DDB has worked with Sony for five years in 39 markets.