It’s no secret Sony’s mobile division has had a tough time making headway in the crowded smartphone market. Where this could be attributed to any number of reasons (poor marketing, 6 month release cycles, virtually no presence in the US), it seems now, after announcing back in November their plans to downsize their smartphone lineup with a focus on high-end devices in a last ditch effort to cut costs, Sony President and CEO Kazuo (“Kaz”) Hirai is now exploring other ideas to help revive their struggling mobile (and TV) business.

According to Reuters, Sony is now open to joint ventures or even the sale of their mobile division completely. Sony is forecasting yet another net loss for the company in Q1 of this year ($1.9 billion) and it’s actually the 6th time they’ve had to cut their earnings forecast since Hirai took the helm back in 2012. While no deals are on the table just yet, Hirai told a group of reporters during last week’s CES that some of the company’s operations will “need to be run with caution,” referring specifically to their TV and mobile businesses.

As fans of Sony’s current smartphone lineup (the Xperia Z3 Compact is unrivaled in its class), we certainly hope Sony Mobile and newly appointed CEO Hiroki Totoki can turn things around but the clock is ticking. It’s clear Sony’s Asian rivals aren’t going to make things easy, but if worse comes to worse, which manufacturer — if any — do you think could come in and rescue Sony Mobile?