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The Wall Street Journal: Sony has announced a major restructuring effort for its mobile phone division. The plan will result in the elimination of 1,000 jobs at Sony Mobile, about 15 percent of the organization's labor force. Earlier in the year, Sony took full control of the division, which had been a joint venture with Sweden's Telefon AB L.M. Ericsson. As part of the restructuring, the Sony Mobile headquarters will move from Sweden to Japan.
"[A] more focused and efficient operational structure will help to reduce Sony Mobile's costs, enhance time to market efficiency and bring the business back to a place of strength," said Sony Mobile President and CEO Kunimasa Suzuki.
In the first quarter, Sony Mobile had only a 4 percent share of the global smartphone market.