February 06, 2014 09:16
Sony is likely to offload its PC division "VAIO" to Japan Industrial Partners for 40 billion to 50 billion yen and talks are currently under way, the Nihon Keizai Shimbun reported on Wednesday.
Sony is believed to have amassed huge debts as its TV and PC divisions have been struggling lately, causing Moody's to downgrade its credit rating to junk status last month. This has forced Sony to sell VAIO, a brand once seen as the face of the company.
This decision reflects Sony's determination to focus on smartphones and tablet PCs while abandoning its interest in PCs, an industry that is seen to be in decline.
However, Sony is still trying to gain ground in the smartphone industry as it entered the market late compared to Apple and Samsung. Sony holds the third-largest stake in its domestic market after Apple and Sharp, while its share of the global smartphone market stands at a meager 3.5 percent, placing it seventh overall.
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