Sony closes smartphone manufacturing plant in China

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In the coming days, Japanese corporation Sony will close its plant for the production of smartphones in Beijing. Production will be transferred to the company's plant in Thailand. According to Reuters, Sony expects to cut costs 2 times, which, according to company management, will allow the smartphone manufacturing business to reach a profitable level in the next fiscal year, which begins in April 2020. Despite the fact that Sony’s global smartphone market share has shrunk to 1%, and many experts believe that the company needs to sell this business, it does not plan to sell it, since, according to its estimates, their smartphones will be instrumental in the fifth generation of wireless technologies.

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