Sony

Sony was one of the most famous mobile manufacturing brands three or four years ago, but recently the company is not performing well in the mobile segment. The company has tried and tested various methods to make its way into the market, but none of them were useful. Sony has attempted to stem these losses by pulling out the budget segment phones entirely and focus only on the premium segment. This hasn’t done anything good for the company either.

According to the report given by Reuters, the company has recorded a loss of $863 million in the year of 2018. This indeed is a massive loss for a company. Sony sold only 6.5 million mobile phones last year.

Huawei announced last week about their share in the market and 2018, the company has netted $52 billion from its consumer business, and overall revenue of $107 billion has been recorded. Right now Sony has a global market share of less than 1%, and now the company is shutting down a major manufacturing plant in Beijing, China.

From now onwards the company will be relying on their manufacturing facility present in Thailand for mobiles. The company is adamant that they won’t sell this manufacturing unit at any cost. Sony is planning to reduce the workforce and make maximum profit from its mobiles division.

Sony is now planning to consolidate its multiple businesses into a single unit. The imaging products and solutions, mobile phones, home entertainment, and sound are merged to form the Electronics Products and Solutions unit.

Shigeki Ishizuka used to run the imaging unit in the past, and now he will be taking care of Electronics Products and solutions business. This change will be implemented from the 1st of April.

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