Sony cuts sales target for cameras, smartphones for 2014-15

Japan’s Sony Corp lowered its sales target for digital cameras to 1.3 trillion yen ($12.7 billion) for the fiscal year to end-March 2015, from a previous estimate of 1.5 trillion yen.

Sony also cut its sales target for smartphones and tablets to 1.5 trillion yen in its 2014 fiscal year from an earlier outlook of 1.8 trillion yen.

Sony, which expects smartphone sales to rise by more than a quarter to 42 million in the current year to end-March, is battling with China’s Huawei Technologies and ZTE Corp and South Korea’s LG Electronics for third place in the $225 billion global market behind Samsung Electronics and Apple Inc.

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Sony cuts sales target for cameras, smartphones for 2014-15