Sony also manufactures the Xperia line of Android smartphones
The company now is expecting not to see a recovery in the industry until 2024. Even though Sony did hike its full-year outlook for revenue and income, the improvement is coming from gaming and entertainment while the smartphone business continues to struggle. And while the company is the leading supplier of camera sensors for connected handsets, one analyst blamed issues that Sony has been having with low yields in this sector.
Even Wall Street has become concerned with the problems in Sony’s camera sensor business. “The image sensor arm is a big concern. The business is getting a lofty tailwind from exchange rates, yet the unit hasn’t been able to make profits,” Morningstar analyst Kazunori Ito said. “We need to pay close attention to the unit going forward.”