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Companies

Sony to slash smartphone workforce 50% by 2020

Fierce 5G competition and poor sales see company retreat from once booming sector

Sony's share of the global smartphone market stands at less than 1%.   © Reuters

TOKYO -- Sony is cutting up to half its smartphone workforce as sales shrink in the face of stiff global competition.

The job cuts come as the global smartphone industry suffers one of the severest downturns of recent years. Worldwide shipments are expected to decline for the third straight year in 2019 to about 1.3 billion units, according to U.S. research company IDC.

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