Sony Considers Selling Its Mobile Phone Business
Sony's smartphone business (official known as Sony Mobile Communications) hasn't been doing great lately, being one of the Japanese company's few units that are currently losing money in a big way. In light of this, Sony CEO Kazuo Hirai is prepared to do everything that's necessary to turn around the company's fortunes.
According to Reuters, Kazuo Hirai and other Sony officials are open to any solutions, including selling the phone and TV businesses, or establishing joint ventures with other companies.
Sony hasn't talked to anyone about selling its phone business, but, as Reuters reports, the company acknowledges that "no business is forever", and "every segment now needs to understand that Sony can exit businesses."
While selling the phone division would be a drastic measure, entering a joint-venture wouldn't be a first for Sony. For more than a decade, Sony was in a joint-venture with Ericsson, but, in 2012, it bought off Ericssons stake to establish Sony Mobile Communications.
Sony forecasts a $1.9 billion net loss for the current business year, with the phone division being largely responsible for the loss.