Sony's mobile arm to cut 1,000 jobs
August 24 , 2012
Japanese electronics and entertainment company Sony Corporation is to shed 1,000 jobs from its mobile phone division.
Around two-thirds of the job cuts will be made at its Sony Mobile division in Lund, Sweden.
The cuts are part of the firm’s plan to decrease its workforce by 10,000 by March 2013.
For the year to March 31, 2012, Sony made a record loss of $5.6 billion.
Sony blames the losses on slowing demand for TVs and a strengthening yen.
The group is looking to return to profitability by shifting its focus away from the saturated TV market and concentrating on gaming and mobile devices.