‘Sony sees smartphone business as indispensable’

23 May, 2019 12:00 AM printer

TOKYO: Sony Corp sees the smartphone business as indispensable to its brand portfolio, its CEO said, bucking calls from some investors that the Japanese electronics firm should scrap the money-losing business.

The smartphone business reported an operating loss of ¥97.1 billion (US$879.45 million) in the year ended March, lagging rivals such as Apple and Samsung Electronics and weighing on the group's record-breaking profit, report agencies.

Sony's consumer electronics hardware business "has centred on entertainment since our foundation, not daily necessities like refrigerators and washing machines," Kenichiro Yoshida told a group of journalists on Wednesday.