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Yes, they definitely are fighting to stay relevant. They used to be the leader in almost every market they were in, and now look at them...
--> Last place in the gaming market
--> Far behind Samsung in the TV market
--> Nearly non-existent in the smartphone market
--> Basically non-existent in the tablet market
--> iPods have crushed their Walkman brand
--> Losing marketshare in the music industry (no longer #1)
It's not looking good for Sony. 

EDIT: 

--> The camera industry is also dying, which was one of Sonys strong points back in the day