Today, Sony announced that it is closing 20 out of its 31 retail outlets across the US. Eleven stores near major markets are to remain open, according to VentureBeat.

The Japanese company's press release explained that this move is made to help Sony regain its balance and eliminate unprofitable units. Just last month, the electronics giant sold its PC business. Within the last couple of years, the firm has chopped off 12,000 jobs. The most recent store shutdowns will take another 5,000 positions from its roster, the report detailed.

Right now, Sony is grappling for a way to decrease the company's liabilities and size. Its retail stores have been up for more than ten years, but they never really achieved success even after a rebranding in 2011. The outlets were lifestyle stores and were made for product showcase rather than retail, the report explained.

Meanwhile, Apple's stores were taking off while Sony vegetated. The Japanese firm later adapted Apple's strategy and changed the stores' name from Sony Style to just Sony, still to no avail. Sony clearly does not have the right amount of both luck and skill to be successful in retail, VentureBeat reported.