Kyocera announces formal withdrawal from consumer mobile phone business
CTOnews.com May 16, although you may have rarely heard of it, Japan's Kyocera has actually been making mobile phones since 1989. Today, Kyocera announced that it will officially withdraw from its consumer-oriented mobile phone business (it will continue to provide services to corporate customers).
The company lost 2.27 billion yen in February (CTOnews.com Note: currently about 116 million yuan). As profitability deteriorated, the company also realized that it had to do something, apparently to cut back on marginalized consumer-grade products.
"We can no longer find a market suitable for the masses," said Hideo Tanimoto, president of Kyocera. In fact, even in its home market, it is difficult for the company to compete with Chinese manufacturers such as Xiaomi and OPPO, as well as other Japanese brands such as Sharp and Sony.
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