Sony will see the smartphone business as indispensable, says CEO

FILE PHOTO: Sony Corp’s new President and Chief Executive Officer Kenichiro Yoshida attends a news conference at their business plan at its headquarters in Tokyo, Japan May 22, 2018. REUTERS/Toru Hanai

TOKYO (Reuters) – Sony Corp, will see the smartphone business as essential to its brand portfolio, bucking calls from a number of investors, that the Japanese electronics company should scrap the money-losing company, the CEO said.

Sony’s consumer electronics hardware business “is focused on entertainment since our foundation, not the daily necessities of life, such as fridges and washing machines,” Kenichiro Yoshida told a group of journalists on Wednesday.

“We see smartphones as hardware for entertainment and a component necessary to our hardware brand is sustainable,” he said. “And younger generations no longer watch TV. Their first contact is their smartphone,” he said.

Reporting by Makiko Yamazaki; Editing by Anshuman Daga

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