Sony misses the financial forecast target…again (mobile business struggling).

Bloomberg reports that Sony said it would post a net loss of 230 billion yen ($2.1 billion) this fiscal year because it was writing down the value of its faltering smartphone business. ony widened its net loss forecast and said it won’t pay an annual dividend for the first time since its 1958 listing.
Sony’s mobile division is squeezed between the Appls/Samsung premium smartphone leaders and the new “Chinese” low cost smartphone companies. Sony probably should look over at Panasonic’s excellent CM1 if they want to grab some attention on their Xperia line. The New York Times reports:

Sony said it would focus more on its phones on the higher end and cut the number of phones in its midrange lineup. It also said it would change the strategy for the division. Kazuo Hirai, Sony’s president and chief executive, said at a news conference Wednesday that the company would cut the division’s work force by 15 percent, or about 1,000 workers.

Anyhow, this bad news has nothing to do with the imaging business which is doing pretty fine! I think at worse Sony will have to get rid of the smartphone division but sincerely, I don’t think this will happen.