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Sony could sell mobile business

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Sony could sell mobile business

Sony could sell its smartphone business or look to go into partnership with another firm, reports suggest, after insiders admitted that the company is struggling to take on the competition.

Anonymous sources ‘familiar with the leadership’s thinking’ speaking with Reuters said all options were being considered.

Sony has not managed to break the dominance of Apple and Samsung and has been hit by the rise of Chinese mobile-makers such as Huawei, Lenovo and Xiaomi.

Sony took sole control of its smartphone operation in early 2012, after over a decade of working with Ericsson. A return to a similar partnership-style structure seemed unthinkable at the time, but could now be on the cards.

Sony’s Xperia Z smartphones have been critically well received, but have not caught the imagination in the same way as rival devices.

The company remains in dire financial straits, despite spinning off its TV business and selling its Vaio laptop arm. It forecasts a $1.9 billion loss for the financial year ending this March.

Source:

Reuters

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