After a 49% drop in quarterly profits, Samsung this month confirmed plans to cut its smartphone lineup by as much as 30 percent. Now it looks like Sony is set to follow suit.
To say it’s been a tough year for Sony would be an understatement. The company as a whole is looking at five consecutive years of annual losses and the mobile division expects to write off $1.5 billion for the year ended March 2015. We’ve already heard rumours that Sony plans to release only one flagship phone next year and now Reuters is reporting Sony will cut both its TV and phone lineups.
The news outlet reports that product line-ups will be reduced to cut overall costs. The overall goal for both the TV and mobile divisions is profitability, not gaining market share. Sony is hoping its strong image sensor business will boost revenue for its devices division.
Sony said in September that its smartphone strategy had shifted to reduce risk and volatility and deliver more stable profits. This includes focusing on its premium lineup and reducing the number of models in its mid-range categories.