Following a recent forecast that predicts Sony's mobile division will lose up to 30 percent of its sales by next Spring, the electronics giant has opted to increase its focus on the perennially successful PlayStation brand.
According to a Reuters report
, Sony has instituted a three-year plan for the shift that aims to reduce support for its mobile device and television divisions and to boost sales of the PlayStation division by 25 percent, up to as much as $13.6 billion. Sony is also relying heavily on sales of image sensors, which the corporation believes could increase by as much as 70 percent, thanks to their use in iPhones and an increasing number of Chinese-manufactured smartphones.
"There's a lot of expectation for Sony now, but nothing is sure until there are results," Ichiyoshi Asset Management chief fund manager Akino Mitsushige told Reuters. "Getting out of the mobile market is an option, but they can't do that now, so they will need to make some fundamental changes."
With cost cuts on the way in some divisions, Sony is also not planning to renew its FIFA soccer sponsorship contract next year, people familiar with the matter told Reuters.