1022 GMT - The global smartphone market is likely to stay sluggish this year, as major suppliers of phone parts like Sony Group outline conservative business plans. Sony Chief Financial Officer Hiroki Totoki, who the company said Thursday will assume the role of president in April, said shrinking demand has become notable even for higher-end smartphones. He also pointed to slowness in major markets like China. Sony, which makes image-sensing chips used in phones such as Apple's iPhone, expects a moderate recovery in smartphones starting in the second half of its fiscal year ending March 2024, according to Totoki. (jie.yang@wsj.com)
(END) Dow Jones Newswires
February 02, 2023 05:22 ET (10:22 GMT)
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