Reuters reports that Sony is to cut its losses and slim down its product line.
Sony has been losing money in the last few years, largely due to the decline of its TV and smartphone businesses – two businesses that have suffered thanks to Samsung and Apple’s success.
They say that they’re going to put their all into the PlayStation and image sensor business – two of the most successful and profitable components of Sony. The PlayStation has been performing incredibly well, with the PS4 beating its rivals, Microsoft’s Xbox One and Nintendo’s Wii U, by a significant margin. As for the image sensor business, Apple uses Sony sensors in their iPhones, the recent success of which is no doubt helping Sony, which is bizarre, considering Sony’s smartphone business is at a slump thanks to Apple.
Sony’s executives have said that they don’t care whether the changes shrink their business – all they’re after is profits to keep things moving forward.
“We’re not aiming for size or market share but better profits,” – Hiroki Totoki, Chief of Sony’s Mobile business.
Apple pretty much saved itself from oblivion in 1997 by doing the same thing, but obviously on an extreme scale. Let’s hope Sony never arrives at that position.