Sony eyes further cut to smartphone sales forecast — report

Sony eyes further cut to smartphone sales forecast — report

22 OCT 2014

Sony is mulling a further reduction to its target for sales of smartphones in the 12 months to the end of March 2015, according to The Wall Street Journal.

The Japanese firm is looking to cut the target by “several million units” from the existing goal of 43 million unit sales by end-March next year, according to people familiar with the situation.

The existing target is itself a reset announced by the company at the end of July. Previously it had been eyeing annual sales of 50 million.

The cause for the reduction is lower-than-expected sales of lower-end smartphones by Sony in emerging markets, an activity it is now downsizing.

In September, Sony announced a ¥180 billion ($1.7 billion) writedown in the sale of its smartphone business and reduced its earnings forecast for the current fiscal year to a ¥230 billion net loss, five times its previous forecast.

Chief Financial Officer Kenichiro Yoshida will hold a meeting with investors in November at which the future strategy for the smartphone unit will be on the agenda.

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Richard Handford

Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including...

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