Sony to End Production at Smartphone Plant in China
Tokyo, March 28 (Jiji Press)--Sony Corp. <6758> will terminate smartphone production at its plant in Beijing at the end of this month, it was learned Thursday.
The move is part of the Japanese electronics giant's efforts to cut costs in its smartphone operations, which have been bleeding red. Sony plans to shut the plant in the future, according to informed sources.
The company aims to turn around the business in the year to March 2021. Sony aims to reduce its smartphone business costs in the year by 50 pct from the year that ended in March 2018.
Sony will continue production at its smartphone plant in Thailand.
The business segment is expected to post an operating loss of 95 billion yen in the year ending this month.
[Copyright The Jiji Press, Ltd.]