In a recent company statement, cited by Reuters, Sony confirmed that it will be closing its factory in Beijing in the coming days. It will move its production to Thailand instead.

The move comes in an attempt to make the Sony smartphone business profitable in 2020. Shifting production to Thailand, according to the spokesperson, is expected to reduce costs by 50 percent.

Sony, while performing well in general, always had a slower smartphone business. The Japanese tech giant is trying to turn things around by either cutting smartphone prices or increasing the profit through a cheaper production process.

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