Sony is expected to leave its smartphone business anytime in a bid to sustain losses. The Japanese tech giant’s CEO Kazuo Hurai has announced in the press conference that in order to be profitable the company has to sell out its business as it cannot survive competition. Previously also Mr. Hirai revealed that the company will consider a sale of its struggling smartphone and television businesses. Currently no such deal has come into light. Despite developing high-end Android devices the tech giant is facing fierce competition by Samsung and Apple on premium devices and for low-end category; the Chinese companies have occupied the markets completely.

The company aspires to achieve profits of $4.2 billion by 2018. Sony plans to invest more in already profitable units. They include production and development of image sensors and the Sony PlayStation gaming business.

Sony mid-ranger unveiled