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Wednesday, 14 January 2015

Sony could sell its Xperia mobile division as business revival plan

Sony’s present doesn’t represent the best times in the company’s history and Sony Corp’s CEO, Kazuo Hirai, has to take important, and, at the same time, rather difficult decisions. As a reminder, Sony has sold its VAIO computer brand, and the new owners have been rumored to enter the smartphone market.
Now, a Reuters report citing “company officials familiar with the leadership’s thinking” claims that a decision to sell off (or enter a joint-venture) the Xperia mobile division could be on the table, as part of the CEO’s business revival plan. The Sony mobile division sale reported has not been decided yet, and the company also considers a shakeup for its TV business.
“Electronics in general, along with entertainment and finance, will continue to be an important business. But within that there are some operations that will need to be run with caution – and that might be TV or mobile, for example”, Hirai said. “The mobile and TV businesses both require a drastic overhaul. Without drastic reforms such as joint ventures or alliances, they will both be in the red three years from now”, he added.
The company’s financial situation isn’t looking to bright, with a forecasted 230 billion yen ($1.9 billion) net loss for the business year to March. Sony is also forced to “suspend dividend payments for the first time, after deep smartphone losses”, says Reuters.
Source: Reuters
Via: Pocket-lint
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