Sony sold just 1.6 million smartphones in Q3; losses to continue through 2020
The Sony Xperia XZ3
For the three-month period ending September 30, Sony has announced that it shipped just 1.6 million smartphones. This represents a huge decline of 1.8 million units versus the same period last year and a further drop of 0.4 million when compared to the second quarter of 2018. In terms of revenue, these numbers translated into a total of $1 billion. Despite various cost-cutting measures, though, the company still reported a larger-than-expected loss of $265 million which is being attributed to a decline in sales across Europe, Latin America, and the Middle East.
Previously, the company hoped that its smartphone business would turn a profit by the end of 2019 or beginning of 2020 with the help of 5G, but Sony has now stated that it expects losses to continue until at least early 2020. Furthermore, it has announced that it will reduce the operating costs associated with the business by 50%.
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