Japan's Sony Corp warned it doesn't now expect to make money on smartphones this year, citing weak demand, but said restructuring will help it turn a profit in its loss-making consumer electronics division for the first time in four years.Reporting April-June operating profit doubled, boosted by its games and networks division and a one-off asset sale, Sony on Thursday cut its smartphone sales target this fiscal year by 14 percent. Analysts had said the initial target was too ambitious amid stiff competition from both high-end rivals like Apple Inc and cheaper Asian electronics makers.Chief financial officer Kenichiro Yoshida said the company is reviewing mid-term strategy for smartphones after the company said it now expects to just break even in the business this year, down from a previous operating profit forecast of 26 billion yen."We are also discussing whether to change the number of phones in our line-up and adjust their lifecycle," Yoshida said, speaking at a news conference after the company released its results on Thursday.
Apple Inc. (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. Shares of AAPL fell by 0.23% or $-0.23/share to $98.15. In the past year, the shares have traded as low as $63.89 and as high as $99.44. On average, 58335100 shares of AAPL exchange hands on a given day and today's volume is recorded at 33010000.
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