Sonys new CEO has a three-year plan to improve the company’s profits. If you’re a fan of Sony, one key thing seems to be missing from that future is Gadgets.
Ahead of Sonys investor relations day, rumors spread that the new CEO would announce a movement away from consumer hardware development and while he didn’t exactly come out and say that explicitly, what he did say had nothing at all to do with gadgets, let alone phones in that presentation.
I really hope that I’m reading too much into this and Sony keeps on making phones, but I wouldn’t be so surprised if they call it quits and only focus on services and other key profit areas. Sony mobile phone business has been rapidly shrinking.
The company still has a strong brand name and great recognition among customers, but it only sold around 10 million phones in 2018, down from 22.5 million in the past year, and Sonys just can’t find a foothold outside of Asia.
And then turning to the popular PlayStation 4, even sales of the console have gone down18% in the most recent quarter and executives admit that the PS4 is approaching the end of its lifecycle. But I don’t think Sony would pull the plug on the PlayStation series just yet because it’s still a great business for Sony because of gaming revenues, streaming and so on.
Again, I just hope this investor meeting doesn’t mean Sony is actually gonna stop making phones. Their latest smartphones almost look like the company is getting serious and competitive about them again.
But then, in order for Sony to actually have a chance to compete, it has to stay in the game. With that being said, let me know your thoughts in the comments down below and I’ll see you tomorrow.