Sony is continuing to lose ground in the smartphone world. The company’s latest financial report shows it shipped only 900,000 phones in the April-June period - the lowest in the past 9 years. Just a year ago Sony managed 2 million phone shipments for the same period which itself was a low point compared to the likes of 2014 when the company hovered around the 10 million mark.

As a result of the slumping sales, Sony’s financial department foresees that its phone sales will bring in only JPY 380 billion ($3.55 million) in revenues which is 7% below the previous estimates. In addition, operating income is will also expected to take a hit.

Given the grim reality, Sony Mobile has lowered its expectations heading forward estimating it can only ship 4 million phones by the end of 2019, down from the previously approximated 5 million mark.

Despite the negative situation, the company is positive it can turn its fortunes around and is betting big on its Xperia 1 which was released at the end of May. The company hopes its feature-packed flagship will translate into better sales figures heading into the second half of 2019.

Source | Via