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Loss and not give up Sony CEO: Smartphone business is indispensable

via:博客园     time:2019/5/22 18:44:58     readed:134

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On May 22, 2018, Kenichiro Yoshida, Sony's new president and CEO, attended a press conference on their company's business plan at the company's headquarters in Tokyo, Japan.

Netease Technologies News May 22, according to foreign media reports, Sony, a Japanese consumer electronics manufacturer, believes that the smartphone business is indispensable for its brand portfolio. Kenichiro Yoshida, chief executive of the company, said that some investors had asked the company to give up its losing smartphone business, but Sony had resisted those calls.

Sony's smartphone business lags far behind rivals such as Apple and Samsung Electronics, and is a drag on the company's profit performance. Sony reported a loss of 97.1 billion yen ($879.45 million) in its smartphone business in the last fiscal year to March.

On Wednesday, Kenichiro Yoshida told reporters that Sony's consumer electronics hardware business

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Sony's mobile phone division, originally a joint venture with Ericsson Sweden, was transferred to Sony's wholly owned business in 2012. Sony's financial statements show that its global market share is less than 1%, with only 6.5 million mobile phones shipped annually, mainly in Japan and Europe.

Sony's goal is to make its mobile business profitable in the next fiscal year. In view of this, the company stopped production at its Beijing plant and streamlined part of its global sales business.

Sony is strengthening its smartphone gaming capabilities to appeal to consumers of its more successful PlayStation gaming business.

In addition, Kenichiro Yoshida said he was confident of improving the profitability of Sony's film business.

In addition, as part of Sony's second reform plan in six years, Daniel Loeb's hedge fund Third Point will once again increase its stake in Sony, Reuters reported.

People familiar with the matter had previously said that Third Point wanted Sony to explore the choices of some of its business units, including the film business. The Fund believes that Sony's film business has attracted acquisition interest from other parties.

Yoshiro Yoshida said,

Kenichiro Yoshida said the management team of Sony's film business is<#comment>

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