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Sony expecting significant losses in 2014 due to faltering smartphone sales

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Sony appears to be in trouble with the company’s yearly earnings estimates seeing a revision yet again this year. Due to the faltering sales of its midrange devices, Sony is expecting losses of close to $1.7 billion or 180 billion Yen. It’s a significant loss for the Japanese manufacturer and has caused great concern among the ranks.

Sony realistically acknowledges the fault in its ways by attributing the dismal performance to the “significant change in the market and competitive environment of the mobile business.” As a result of this, the company is now expected to focus more on the high end segment with its flagship offering being refreshed every six months. The Sony Xperia Z3 handset was announced a couple of weeks ago and is expected to be launched sometime soon. The company is reportedly looking to “reduce risk and volatility, and deliver more stable profits” which is the only way to go in the current situation.

So this essentially means that we might see less of Sony’s midrange handsets with the focus shifting towards high end smartphones which can bring in more profits.

Source: Sony

Via: Engadget

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