Sony Cutting Back On Smartphone and TV Lineup To Focus More On PlayStation
Sony is looking to make some changes in its business structure in order to start making a profit. Back in October the company reported a $1.25 billion net loss for the second quarter and revealed that it expects a $2.1 billion loss for the fiscal year. At an investors meeting, Sony revealed that its goals for TV and smartphones would be to turn a profit, even if that meant that sales would slide as much as 30 percent, but plans to focus more on its gaming division.
"We're not aiming for size or market share but better profits," said Sony Mobile Communications president Hiroki Totoki at the conference, according to Reuters. The company’s smartphone division has been one of the main factors for the company’s losses as it continues to struggle in the mobile market. This means that it will forego plans to compete with rivals for share in the market in order to concentrate on a smaller selection of devices that will turn a profit.
To bounce back, Sony has outlined a three-year electronics business plan with the aim to boost sales for its videogame division by up to $13.6 billion. The PlayStation 4 console has been a huge success for the company that, at last count, had sold 13.5 million units.
In addition to focusing on its gaming division, however, Sony will also focus on its image sensor business which has been profitable. The company believes that sensor sales could increase by 70 percent thanks to its deal with Apple that uses the company’s sensors in its iPhones and the increasing adoption of the sensors by Chinese handset manufacturers.
"We're not aiming for size or market share but better profits," said Sony Mobile Communications president Hiroki Totoki at the conference, according to Reuters. The company’s smartphone division has been one of the main factors for the company’s losses as it continues to struggle in the mobile market. This means that it will forego plans to compete with rivals for share in the market in order to concentrate on a smaller selection of devices that will turn a profit.
To bounce back, Sony has outlined a three-year electronics business plan with the aim to boost sales for its videogame division by up to $13.6 billion. The PlayStation 4 console has been a huge success for the company that, at last count, had sold 13.5 million units.
In addition to focusing on its gaming division, however, Sony will also focus on its image sensor business which has been profitable. The company believes that sensor sales could increase by 70 percent thanks to its deal with Apple that uses the company’s sensors in its iPhones and the increasing adoption of the sensors by Chinese handset manufacturers.
