© dr911 dreamstime.com Electronics Production | March 28, 2019
Sony to shut down Chinese smartphone manufacturing
The Japanese electronics giant is reportedly closing down its Beijing smartphone plant as it is looking to cut costs and turn its struggling handsets business into a profitable venture next year.
The decision to close the plant is, according to a company spokesman, not related to the current trade dispute between the US and China, reports Reuters. The plant will cease operation by the end of the month, and it is still unclear how many jobs will disrepair with the closure. With the closure, Sony’s only in-house smartphone manufacturing will be taking place in Thailand. However, the company continue to outsource some production to contract manufactures, spokesman told Reuters. The handset business is one of the Japanese company’s struggling ventures and is facing a loss of JPY 95 billion (about USD 863 million) for the financial year ending this month.