Sony Anticipates $2.1B Loss on Smartphone Division
Jeremy Tate / 3 years ago
More bad news for Sony – the company has just revised its forecasts for the financial year and things aren’t looking good in its mobile sector. Sony is expecting a loss of $2.1B US – terrible news for the Japanese manufacturer. The company has been haemorrhaging money across the board for a number of years now, and whilst their photography and electronic entertainment divisions have successfully seen a big turnaround in recent years – it’s obvious that there’s still a lot more work to be done.
In early 2014 – the smartphone division was looking positive and upbeat and was expecting to “achieve significant sales growth” – however it’s clear that things haven’t worked out. Sony’s now looking to “revise to reduce risk and volatility”, or in layman terms – simply playing it safer in the mobile space. A smart choice it might turn out to be, as the company looks to turn its focus to concentrating on flagship devices, as well as reducing the number of mid-low end devices. It’s worth noting that it’s recent Xperia Z3 and Z3 Compact devices have been well received thus far by critics – so with a bit of luck Sony might successfully turn the ship around. For more on Sony’s revised financial forecasts, visit the official release.
Thanks to Sony for providing us with this information.
Image courtesy of LazyGamer.net.