Monday, 16 Sep 2019
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ECONOMYTRADE - SERVICE

Sony Mobile withdraws from many markets including Vietnam

Updated at Thursday, 23 May 2019, 16:17
The Hanoitimes - In fact, Sony had downsized its business operations in the Southeast Asia months ago and closed some of its main stores in Malaysia, Singapore and the Middle East.
Sony has decided to narrow some of its markets that generated unprofitable sales including India, Australia, Canada, South America, Middle East, Southeast Asia including Vietnam after the strategy meeting for the fiscal year of 2020 on May 22, Zing reported.
 
Sony's smartphone designs have remained almost unchanged which bored the users. Photo by 9to5Google.
Sony's smartphone designs have remained almost unchanged which bored the users. Photo: 9to5Google.
Sony Mobile will only focus on proper markets such as Japan, Europe, Taiwan (China) and Hong Kong (China) with the hope of gaining profit in mobile phones segment by 2020 as its operating cost was cut down by a half compared to 2017.
In 2018, Sony continued to incur a loss of up to US$870 million in the smartphone business with the turnover plummeting by 50% compared to 2017.
In fact, Sony had downsized its business operations in the Southeast Asia months ago and closed some of its main stores in Malaysia, Singapore and the Middle East.
Slashgear, a blog dedicated to highlighting the latest and greatest in technology and automotive, analyzed that the retreats resulted from Sony Mobile's inappropriate business strategies in these markets.
The price of Sony’s smartphones is set at abundantly higher than that of other rivals in the same segment. Furthermore, product designs have remained almost unchanged which bored the users.
The rumor that Sony would withdraw its mobile phones from the Vietnamese market had begun to circulate since September last year, raising concern among domestic mobile phone retailers who almost immediately sold off Sony smartphones with shocking promotions and discounts.
At many Sony dealerships, high-end smartphones are sold out and Sony-branded smartphones also almost disappeared from the shelves.
The decline of Sony mobile phones was forecast years ago with the expansion of other brands namely HTC and LG.  Sony has been gradually losing the market to Chinese brands such as Huawei, Xiaomi, Honor and recently HMD Global.
Ha An
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