Sony closes China’s smartphone factory to optimize costs

Sony closes China’s smartphone factory to optimize costs

Sony’s official spokesman confirmed the company’s desire to put an end to the day-to-day operations of its smartphone factory in Beijing. The decision is not surprising since it is part of the Japanese revenue reduction strategy.

Sony continues to face serious problems in trying to successfully compete with other brands in the global smartphone market.

It is because of their top priority in their strategy to look for different ways to optimize their finances in this segment, Reuters reported. One of the most ambitious goals of Sony is to put an end to the negative trends in mobile business in the last quarters and make it profitable by the beginning of 2020. The company is expected to release financial losses of $ 863 million from its mobile business for fiscal year 2018.

The Japanese manufacturer closes its facility in the Chinese capital, but reserves the right to enter into foreign contracts with other companies. Their names are left unknown, but it is obvious that Sony is doing a lot of effort to reduce negative competition from the smartphone market in recent months.

According to the information, the company managed to sell about 6.5 million smartphones in 2018, which means that the market share is less than 1%.

Sony closes China’s smartphone factory to optimize costs