Sony considers the smartphone business an integral part of its brand portfolio, Sony Corp President and CEO Kenichiro Yoshida (pictured below) said at a press conference announcing the company's business plan. This statement caused dissatisfaction with some investors, who believe that the Japanese company should abandon unprofitable production.
Sony's consumer electronics business "has focused on entertainment since its inception rather than everyday necessities like refrigerators and washing machines," Kenichiro Yoshida told reporters on Wednesday.
“We view smartphones as entertainment devices and an essential component to the sustainability of our hardware brand,” said Yoshida. “And the younger generation don’t watch TV anymore. His first point of interaction is his smartphone.”
In the last fiscal year ending in March, Sony's smartphone division posted an operating loss of 97,1 billion yen ($879,45 million) as it lagged behind rivals such as Apple and Samsung Electronics.
Initially a joint venture with Sweden's Ericsson, which Sony fully acquired in 2012, the division has less than 1% share of the global smartphone market and only ships 6,5 million phones annually, mainly to Japan and Europe, according to Sony's financial report. .
At an investor meeting this week, Sony said it would focus on four markets: Japan, Europe, Hong Kong and Taiwan. Regions such as Australia and the Middle East, as well as Russia and China, the Japanese company, it seems, will no longer pay much attention.
Source: 3dnews.ru