Even though Sony posted a net loss of over $1 billion for its 2013-2014 financial year, which ended in March, the Japanese electronic giant still forecasted 50 million mobile phones would be sold from April 2014 to March 2015. In September, Sony decided to adjust that forecast by lowering the target by 7 million. Now, it appears Sony will reduce its handset sales forecast yet again, reports The Wall Street Journal.
Even though the publication did not give specific numbers, it reports that Sony will reduce its forecast by several million units. In addition, it could be intent on reducing its presence in emerging markets, specifically in China, so entry-level handsets in these markets could see the boot. The rationale given was that, for Sony, it has been an uphill battle trying to challenge cheaper handsets from Chinese manufacturers, such as Xiaomi, which took over the top spot in the Chinese market.
As a result, Sony chief financial officer Kenichiro Yoshida confirmed that Sony will instead focus on producing high-end handsets. Sony looks to reveal more at a meeting it will hold with investors in November.
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