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Sony Plans To Stick Around In Mobile: “Will Never Ever Sell Or Exit” Business

Sony Plans To Stick Around In Mobile: "Will Never Ever Sell Or Exit" BusinessRumours have been swirling around the potential for Sony to exit smartphones, with the Japanese manufacturer currently undertaking a number of business reforms, having unveiled its “mid-term strategy” for the next three years earlier in the year.

Competition is intense at all levels of the smartphone market, and there has been speculation Sony could sell up and focus on other areas of its business. According to Gartner, Sony captured a 2 per cent share of the mobile phone market in 2014.

In an interview with ArabianBusiness.com, however, Totoki explained Sony intends to remain in the market.

“Smartphones are completely connected to other devices, also connected to people’s lives – deeply,” Totoki told ArabianBusiness.com. “And the opportunity for diversification is huge. We’re heading to the IoT (Internet of Things) era and have to produce a number of new categories of products in this world, otherwise we could lose out on a very important business domain.  

“In that sense, we will never ever sell or exit from the current mobile business.”

Under Sony’s mid-term strategy, it stated it would position its devices, game and network services, pictures, and music segments to drive profit growth.

Sony noted its TV and mobile communications businesses “operate in markets characterised by high volatility and challenging competitive landscapes”, stating it will place the “highest priority on curtailing risk and securing profits in its operation of these businesses”.