Sony to slash smartphone workforce

The company’s smartphone sales for fiscal 2018 are projected to come in at a dismal 6.5 million units, half the previous year’s figure and just one-sixth that of five years ago. In fiscal 2014, Sony pulled 1,000 employees from its smartphone operations, but sales have plunged faster than expected, necessitating a further round of cuts. Sony’s smartphone business generates annual revenue of about 500 billion yen, but is expected to post an operating loss for the third straight year through fiscal 2019.

Source: asia.nikkei.com