INTERVIEW: Sony Stresses Importance of Smartphone Biz

Economy

Tokyo, May 22 (Jiji Press)--Sony Corp. <6758> President Kenichiro Yoshida on Wednesday highlighted the importance of his company's loss-making smartphone business.

"Smartphones are entertainment devices. They are necessary for Sony, which is an entertainment company," Yoshida said in an interview.

Yoshida expressed his resolve to make the smartphone business profitable in fiscal 2020 to achieve its reconstruction.

Annual smartphone sales volume at Sony has been decreasing. The segment bled red ink for two straight years to fiscal 2018, which ended in March this year.

The company plans to shore up the segment's performance by launching a new model equipped with a high-performance camera, Xperia 1, in mid-June and by reducing costs through production facility consolidation and other means, according to Yoshida.

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Jiji Press