9/17/2014 9:06:12 AM
Sony predicts bigger losses, blames mobile segment
Sony has forecast bigger losses for this financial year, reducing sales expectations for the mobile communications segment of the business.
The Japanese giant issued a statement to investors revealing that it now expects to lose 180bn yen (£1bn) more than its previous estimate. Sony also announced that it planned to change its mobile strategy in certain geographies: ‘Concentrating on its premium lineup, and reducing the number of models in its mid-range lineup.’ These changes were designed ‘to reduce risk and volatility, and to deliver more stable profits’.
Explaining the reasons behind the changes to the forecasts the manufacturer said that they had been ‘modified to address the significant change in the market and competitive environment of the mobile business.'
A Sony spokesperson told Mobile: ‘Sony Mobile is continuing to review its strategic product and geographical focus as part of its commitment to profit stabilisation and sustainable growth. No further comment on specific markets can be shared at this stage’
Recently, Sony unveiled a new range of smartwatches and the latest version of its flagship smartphone the Xperia Z3.