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Sony’s mobile business might be closing very soon

AMEinfo reported on Sony’s ‘lucky’ past few years and their ‘great’ reputation in making screens just last week.

Well, new reports show that the Japanese company is pulling its mobile products from markets that were proving to be “unprofitable.”

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Investors of the brand’s smartphone segment have been on edge ever since the manufacturer, Sony recently stated that it expects its mobile business to become sustainable by 2020 thanks to a future focus on 5G technology, and specific cost-cutting measures.

However, if the latest tweet from Evan Blass, commonly known as evleaks, is correct, it may result in a notable downsizing of the business.

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Right now, Sony is yet to make any official statements in regards to the closedowns, but the argumentation behind the decision is likely a lack of profitability. After all, Sony has previously announced its new goal of creating a lean and agile mobile division over the next few years, concentrating solely on profit instead of the total revenue or the number of units sold.

Moving forward, it appears the Japanese brand will be refocusing its efforts on the markets where it can guarantee itself a profit such as Europe and certain Asian countries.

Moreover, the US still appears to be of interest, since the company recently revealed that its flagship Xperia XZ2 Premium would begin shipping in the country July 30. The device will retail for a whopping $999, which pits it directly against Apple’s iPhone X.