Sony Expects Smartphone Rebound Only in 2024 After China Fizzles
- The camera sensor leader had anticipated second-half recovery
- Sony warns that conditions are tough in China and the US
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Sony Group Corp., the dominant supplier of camera sensors for smartphones, is pushing back expectations for a smartphone market recovery to 2024 at the earliest after gauging worsening demand from China and the US.
The electronics and entertainment conglomerate, a key supplier to device leaders including Apple Inc., had earlier expressed confidence in a second-half bounce-back in global phone sales. It joins Apple and other tech companies that in recent weeks have warned of persistently sluggish demand as China struggles to reboot its post-Covid economy and inflationary pressures weigh on spending elsewhere.