Sony Revises Their Financials, Expects A Much Bigger Loss

While Sony has some pretty decent high-end smartphones, like the recently announced Sony Xperia Z3, the company also has some low-mid range smartphones in its stable as well. Unfortunately it seems that those devices aren’t doing particularly well which is why Sony has recently announced that they will be revising their finances.

The company has recently quadrupled their forecast of the amount of money they expect to lose in the financial year, and it seems that the loss is largely attributed to the company’s low-mid range Xperia handsets that aren’t selling as well as Sony had initially hoped. Sony’s revised financials now state that its net loss will be about 230 billion yen, a leap from its previous forecast of 50 billion yen.

Sony will also be changing their smartphone strategy. Previously the company was all about trying to achieve growth by flooding the market with its sales, but unfortunately due to that not going the way they intended, they decided to cut costs instead, thus reducing risk in the process.

This means that Sony could end up focusing on higher-end smartphones instead of pumping out as many low-mid range phones. We suppose for the smartphone shopper who loves high-end devices, this is good news, although for those shopping for budget devices, perhaps you won’t see so many from Sony in the future.

Tyler Lee
Categories: Cellphones
Tags: Sony