Sony Still Weighing Sale of Smartphone Business
Feb 18, 2015, 8:56 AM by Eric M. Zeman
Sony today announced plans to spin off its audio and video business into a separate company. The unit will take the form of a wholly owned subsidiary of Sony. The move, explained CEO Kazuo Hirai, is to make the unit more autonomous and focused on generating profits. Sony made similar strategic moves with its television business and personal computing business. When asked if Sony would consider an outright sale of its television or smartphone businesses, Hirai responded, "I think we have to keep those possibilities in mind." Hirai hinted that Sony might sell off its smartphone business earlier this year. The company is heavily focused on generating profits, but its smartphone business has struggled against larger competitors Apple and Samsung. Hirai said there are no deals on the table at the moment.
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