Sony Could Exit Smartphone And Television Business

Japanese tech giant Sony is looking at exiting the smartphone market. Sony CEO Kazuo Hirai said that the company would no longer pursue sales growth in smartphone area. He also said that the brand has faced stiff competition from Asian rivals and Industry leaders like Apple and Samsung. 

Apart from smartphone, Sony is also contemplating on exiting the TV business and is considering to sell these divisions.

Sony will instead focus its spending on other profitable businesses such as camera sensors, video games and entertainment to stabilise its diminishing profits by investing more on these three divisions. Sony is aiming to achive $4.2 billion annual profit by 2018.

Last year, Sony sold it VIAO computer division to an investment company in Japan to focus more on smartphones and tablets. Last month it was reported that Sony plans to cut 2000 jobs in the struggling smartphone division.

Source : Reuters