Sony’s Xperia smartphone business has been losing money for quite some time now. Despite rumors that the company was looking to give up on the business altogether, Sony has reiterated its commitment to making smartphones, but will only be selling them in four markets going forward. It’s exiting all of the other markets for a more sustainable approach to the business.
Sony CEO Kenichiro Yoshida said that the Xperia smartphone business is a pivotal part of Sony’s identity which is entertainment focused. “We see smartphones as hardware for entertainment and a component necessary to make our hardware brand sustainable,” pointing out that younger generations no longer watch TV, “their first touch point is smartphone.”