Sony could abandon TVs, smartphones
CEO ‘does not rule out’ exits, as company prepares to focus on PlayStation, camera sensors
Japan's Sony Corp may abandon its smartphone and TV businesses in a bid to swell its operating profit 25-fold over three years, Reuters reported.
Beleaguered Sony has projected its sixth net loss in the past seven years for the current financial year.
Instead of continuing to absorb heavy losses in battles with cheaper Asian rivals and segment heavyweights such as Apple and Samsung, CEO Kazuo Hirai yesterday said the company would dial back operations in handsets and TVs to focus on growth in more profitable units such as camera sensors and PlayStation games consoles.
"The strategy starting from the next business year will be about generating profit and investing for growth," Reuters quoted Hirai as saying. He also said he would not "rule out considering an exit strategy" for its struggling TV and smartphones units.
Sony has laid off thousands of workers and jettisoned its loss-making Vaio PC unit in pursuit of a turnaround. An ongoing restructuring strategy has been welcomed by investors: Sony's share price has risen more than 80% over the past year.