Sony regionally splits smartphone business, aims to quit India market

By Nikita Chaurasia  Date: 2019-05-24

Sony regionally splits smartphone business, aims to quit India market

Sony will be officially quitting its smartphone business from the Middle East, India, Australia, Mexico, and Canada.

Japanese conglomerate Sony Corp. has announced that it plans to retain extensive focus now on its smartphone business. As per authentic reports, its smartphone arm reported an operating loss of USD 879.45 million in the year-end March. The company’s CEO, Kenichiro Yoshida, however, claims that despite the loss, Sony views its smartphone business to be highly indispensable and the firm will now work on expanding the reach of the same.

Sources familiar with the knowledge of the matter claim that Sony’s smartphone business originally commenced as a joint venture with Sweden's Ericsson. In 2012, Sony retained complete control of the business, that accounts for a share of lesser than 1% in the global market. According to Sony’s financial statement, the business ships merely 6.5 million handsets on an annual basis, with a regional focus on Europe and Japan.

Kenichiro Yoshida, in a statement, claimed that the company’s consumer electronics hardware business has always remained focused on entertainment since Sony’s foundation, unlike everyday essentials such as washing machines and refrigerators. From the firm’s perspective, smartphones are a vital hardware for entertainment and highly necessary to make Sony’s hardware brand sustainable, he says. Not to mention, the fact that the youth prefers the smartphone as the first touchpoint as opposed to watching TV has also been taken into consideration, Yoshida adds.

Sources familiar with the matter claim that Sony plans to make its smartphone business highly profitable by the next financial year, on the grounds of which it has streamlined some of sales operations worldwide and also ended production at its plant in Beijing. The company has also formulated a plan for the sales and marketing of its smartphones – it has bifurcated its regional business scope into focus and defocused geographies. The countries that fall under the former include Taiwan, Japan, Hong Kong Europe, while the defocused regions are inclusive of the Middle East, India, Australia, Mexico, and Canada.

Reports claim that Sony will be officially quitting its smartphone business in these markets.

Additionally, Sony is also focusing on enhancing the gaming functionalities of its smartphones so as to tap customers of its PlayStation gaming business.

Source Credits: https://www.livemint.com/technology/tech-news/sony-says-it-will-withdraw-smartphone-business-from-india-1558515435818.html

About Author

Nikita Chaurasia     aeresearch.net

Nikita Chaurasia

An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...

Read More

More News By Nikita Chaurasia

Apple unveils 16-inch MacBook Pro with high-performance M1 processors

Apple unveils 16-inch MacBook Pro with high-performance M1 processors

By Nikita Chaurasia

Tech giant Apple, Inc. has recently unveiled the 16-inch MacBook Pro, which promises extraordinary design and performance. The model can be customized with the all-new M1 Pro and M1 Max processors.    These new 10-core processors are ...

Kedrion Biopharma expands to North America with Prometic acquisition

Kedrion Biopharma expands to North America with Prometic acquisition

By Nikita Chaurasia

Prometic Life Sciences has developed the first FDA-approved treatment for Congenital Plasminogen Deficiency. This acquisition will enable easy access to advanced therapies for patients suffering from this rare disease. Kedrion Biopharma Inc. has...

Facebook Pages to reduce focus on Likes and followers for Indian users

Facebook Pages to reduce focus on Likes and followers for Indian users

By Nikita Chaurasia

Facebook Inc. has reportedly removed Likes from Facebook Pages for its Indian users to make the platform more user-friendly and easier to understand. This redesign of Facebook Pages was launched in January 2021 and has been rolled out for Indian user...

Merchant commerce platform Pine Labs eyeing USD 1 Bn Nasdaq listing

Merchant commerce platform Pine Labs eyeing USD 1 Bn Nasdaq listing

By Nikita Chaurasia

India is likely to witness a record number of IPOs this year, with several companies eyeing public listing to raise funds if the market sentiment remains positive. One such company, Pine Labs is reportedly planning to list itself on Nasdaq by October...

European climate group asks EU for tougher CO2 targets for truck makers

European climate group asks EU for tougher CO2 targets for truck makers

By Nikita Chaurasia

According to a recent study conducted by Europe’s Transport and Environment (T&E), the European Union (EU) should implement stricter CO2 targets for truck makers to swiftly transition to zero-emission models as present goals do not provide ...