Sony looks to focus on mobile phones
Newly-appointed chief executive of Sony Kazuo Hirai said his firm would be focussing on mobile phones and other electronic items to try and arrest its current slide.
The firm's change in focus comes after the electronics giant's chief executive announced the company's annual loss is forecast to stand at a record $6.4 billion (£4 billion).
Hirai told a news conference at Sony's Tokyo headquarters that "a multitude" of investors are calling for change and stated this mobile revival will help in the long term.
Sony's entire market value has slumped by nearly one-fifth in the last month, which has led to the firm falling behind its other mobile phone rivals.
Samsung is now ten-times more valuable than the Japanese firm, while Apple is now worth 30 Sonys.
Hirai vowed to make Sony a leading mobile phone manufacturer stating that "smartphones will become the hub device," before adding he wanted to triple revenue in the next three business years.
Posted by Simon Thomas
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