Japan’s Sony Corps revealed their plan to cut off their TV and smart phone products to limit costs. Sony Corps look forward to their three year plan with their Play Station 4 and image sensor product line ups.
On November 25, Sony’ s appointed chief, Hiroki Totoki admitted that they are mainly aim for profit rather than the size and market shares. Sony’s Xperia had shown lower profits recently and further plans will be made public by the end of March 2015.
Sony had been reportedly gone behind their rivals Samsung Electronics Co Ltd and Apple Inc with regards to the consumer electronics. Sony wanted to turn profits from their TV and smartphones despite the 30 percent decline.
Image sensor business is expected to increase 70% of its profit as their sales increases. They may not be able to quickly let go of their Xperia but it is an option they had to take to turn Sony with a higher leverage in the market.
Furthermore, there had been rumors that Sony will not renew their contract with their FIFA soccer sponsorship next year.
Sony was said to be willing to cut off their TV and samrtphone divisions which are reportedly having declined sales to fully concentrate on their gaming division and image sensor business which Apple Inc is currently using.