Sony® to enter smart phones market
In a bid to consolidate its position in the home electronics segment and regain its lost supremacy in the mobile phones sector, Sony is making efforts to consummate a deal with Ericsson in order to buy out the latter’s stake in their joint venture, Sony Ericsson. Currently, both Sony and Ericsson have 50 per cent stake in the business. Both the parties are worried about the declining market share of their brand and the awfully stiff competition they are facing from market leaders like Apple, Samsung, and HTC.
Apart from the dwindling market share of Sony Ericsson, the company is also worried about its key products; such as, cameras, gaming platforms, and music players that are losing ground due to smart phones. In the home electronics sector, Apple is giving Sony a hard time with products like iPhone, Apple TV, and iPad. Samsung, another prominent competitor, is also doing very well with their range of products comprising of televisions, smart phones, and tablets.
In order to be able to remain as a name to conjure within this sector and offer competition to brands like Apple and Samsung, Sony had to enter into the smart phone market. In fact, experts believe that Sony should have already done what it is contemplating at the moment. Going solo would perhaps stand Sony in good stead to recapture its leading position in the mobile phone market and adding smart phones to its arsenal seems to be a very smart thinking!