LAS VEGAS – Sony Corp. President Kazuo Hirai said Wednesday he expects growth in the smartphone market to slow as it approaches saturation.
“I don’t think this is a market where double-digit growth will continue,” Hirai told media outlets at the International Consumer Electronics Show.
“It’s been more than 10 years since smartphones were introduced, and the market is gradually approaching saturation,” he said, adding that consumers are now taking longer before purchasing new handsets.
While Sony’s smartphone sales have fallen, its robust PlayStation 4 gaming business has offset the decline, helping the company stay on a recovery track following a prolonged slump in its consumer electronics business.
Hirai said the company will “closely watch” the market’s further growth.