After dumping PC business, Sony plans to kill TV and mobile phone line-ups

Sony_ibnlive-624x351
- Advertisement -

Japan’s loss-making Sony plans to slash its TV and mobile phone product line-ups to cut costs, counting on multi-billion dollar revenue surges for its buoyant PlayStation 4 and image sensor businesses over the next three years.

Having lost ground to nimbler rivals like Apple and Samsung in consumer electronics, Sony said on Tuesday its goal for TV and smartphones is to turn a profit, even if sales slide as much as 30 percent.
“We’re not aiming for size or market share but better profits,” Hiroki Totoki, Sony’s newly appointed chief of its mobile division told an investors’ conference. A poor showing by its Xperia smartphones has weighed heavily on recent earnings and Sony said more detail on plans for the unit will be unveiled before end-March.

With cost cuts on the way in some divisions, Sony is also not planning to renew its FIFA soccer sponsorship contract next year, people familiar with the matter told Reuters.

Under its new three-year electronics business plan, Sony said it was aiming to boost sales for its videogame division by a quarter to as much as 1.6 trillion yen ($13.6 billion). It said that will be helped by personalized TV, video and music distribution services that should lift revenue per paying user.

At its devices division, which houses its image sensor business, Sony said sales could increase 70 percent to as much as 1.5 trillion yen. Sony’s sensor sales are already robust, with Apple using them in its iPhones while Chinese handset manufacturers are increasingly adopting them.

In a similar event last week for its entertainment units, the conglomerate said it was aiming to lift its movie and TV programming revenues by a third over the next three years.

Shares in Sony finished 6 percent higher on hopes that the new measures show a greater sense of restructuring urgency, while the Nikkei 225 index rose 0.3 percent.

“There’s a lot of expectation for Sony now, but nothing is sure until there are results,” said Ichiyoshi Asset Management chief fund manager Akino Mitsushige. “Getting out of the mobile market is an option, but they can’t do that now, so they will need to make some fundamental changes.”

Reuters

- Advertisement -

Related Articles

What is SLED, how realme gave TV industries a new look with the help of this technology?

Realme has also made a strong place in the TV segment after smartphones. The company has used SLED technology in its TV segment which...

PUBG Mobile will not return to India, PUBG Mobile Ban in India Permanent for now

PUBG News: Several Chinese apps were banned by the Indian government, including the popular Battle Royal game PUBG Mobile. The game had a large...

Samsung Galaxy A42 5G may be launch with the latest Snapdragon 750G processor, the report reveals

Samsung's upcoming smartphone Samsung Galaxy A42 5G has been in the discussion for a long time. Recently...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

43,178FansLike
535FollowersFollow
45,700SubscribersSubscribe

Latest Articles

What is SLED, how realme gave TV industries a new look with the help of this technology?

Realme has also made a strong place in the TV segment after smartphones. The company has used SLED technology in its TV segment which...

PUBG Mobile will not return to India, PUBG Mobile Ban in India Permanent for now

PUBG News: Several Chinese apps were banned by the Indian government, including the popular Battle Royal game PUBG Mobile. The game had a large...

Samsung Galaxy A42 5G may be launch with the latest Snapdragon 750G processor, the report reveals

Samsung's upcoming smartphone Samsung Galaxy A42 5G has been in the discussion for a long time. Recently...

How To Protect Your Smartphone From Hackers, then follow these Tips

protect your smartphone from hackers: Smartphone usage has increased sharply in the Corona era, so hacking cases...

Vivo launched its first Smartwatch Vivo Watch equipped with a heart rate and blood oxygen sensor

Vivo has launched its first smartwatch Vivo Watch. This latest smartwatch has been made available in 42mm...