Sony may sell its Smartphone business, says CEO Kazuo Hirai

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With the increasing demand of Apple and Samsung phones in the high-end market and Chinese phones in the low-end, it is getting difficult for Sony to maintain the same business rate as it had at the launch of Sony Xperia and VAIO. So, the Company is looking to shift focus to its already successful divisions like Play Stations Games and production of Image sensors in order to earn more profit.

At a press conference, the CEO of Sony Corporation, Kazuo Hirai announced that the company aims to achieve an annual profit of $4.2 billion by 2018, which is a 25-fold increase to that of its current financial performance.  He also revealed that Sony will no longer pursue sales growth in the highly competitive field but will consider a sale of its struggling smartphone and television businesses.

Though Sony has not revealed its exit totally from the smartphones industry. However, in the recent past, the Company has showed several signs of turning around its electronic business like selling off its PC division and reducing costs in other parts of the world.

Source: WSJ

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