Sony, which is struggling to sell its smartphones in India, has now decided to defocus on Indian market. This came to light after Xperia blog got its hands on a slide presented at a recently concluded investor meet of Sony Corporation in Tokyo, Japan.
In the slide, Sony stated that it is facing losses in USA, Brazil, India and China. And it now has decided to defocus in these regions.
“Part of the reason for this is that Sony expects FY15-17 CAGR smartphone growth from India, China, Brazil, Indonesia to be just 0.3%. This compares to Sony’s estimate last year of +8.1%, showing just how much expectations have changed in a year,†Xperia Blog added in its report,
The Indian smartphone market is currently dominated by Samsung followed by Micromax, Lenovo (and Motorola), Intex, and Lava. On the other hand, Sony has just 8.3 per cent share of Indian smartphone market, as per a new study.
Sony however used to be a leading name in the Indian market few years back but with in recent times many Chinese companies have entered the Indian market. Along with that Indian companies have also upped the ante.