Sony today announced that it's going to reorganize its ailing TV division into three groups, focused on LCD television, outsourcing, and next-generation products, respectively. The move comes one day after insistent rumors that Sony will disband its LCD manufacturing deal with Samsung, and just one day before Sony announces its quarterly earnings, which are expected to once again be bleak. The timing has fueled further whispers that a more dramatic move is in the works, especially in the wake of Sony buying Ericsson out of their longstanding cellphone partnership.

Whatever happens, it's clear that the TV industry is undergoing a massive recalibration in a saturated market: Panasonic announced a similar restructuring yesterday that leaves it operating only two TV plants in the wake of an enormous quarterly loss, and Toshiba saw profits drop nearly 20 percent on falling TV sales. We'll see if Sony and the others can turn things around without drastic measures — or if there are more surprise in store.