Sony to exit the smartphone market?
Following reports that its smartphone division is not doing well, Sony is now looking at exiting the smartphone market and will instead focus on its other profitable businesses.
According to a report by Reuters, Sony’s CEO Kazuo Hirai said that the company “would no longer pursue sales growth in areas such as smartphones where it has suffered competition from cheaper Asian rivals as well as industry leaders like Apple Inc and Samsung Electronics.”
Aside from Xperia smartphones, Sony is also contemplating on quitting the TV business as well and is considering selling these divisions. It’s worth noting that the company focused on growing its mobile and TV businesses right after it sold its VAIO PC division to Japan Industrial Partners Inc (JIP) last year.
Sony’s next step is to grow its remaining businesses which it considers as profitable such as camera sensors, video games and entertainment. If this is the case then it’s looking good for the PlayStation as well as OEMs who prefer Sony imaging sensors in their products.