The company hopes to make its business profitable by the next financial year.
What you need to know
- Sony CEO says the company is committed to its smartphone business.
- The company reported a loss of $879.45 million USD.
- Sony phones account for less than 1% of the global market share.
To say that Sony’s smartphone division has seen better days would be a massive understatement. The company’s market share in the mobile industry is at less than 1% with total shipments maxing out around 6.5 million units each year.
Despite those numbers and the fact that Sony lost $879.45 million USD on its smartphone division this past year, CEO Kenichiro Yoshida recently commented that the company is still committed to this line of work.
We see smartphones as hardware for entertainment and a component necessary to make our hardware brand sustainable. And younger generations no longer watch TV. Their first touch point is smartphone.
Sony’s current plan is to make its smartphone division profitable by its next financial year, with one of the tasks being to add more gaming-centric features that tie-in with the company’s PlayStation products.
With that said, here’s to hoping Sony’s able to turn things around. The company makes good phones, but high prices and weak availability (at least in the U.S.) tend to keep them out of reach for a lot of consumers.
Good hardware and software are already being offered. Sony just needs to figure out how to convince people their phones are worth buying over its competitors.
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