(Yicai Global) March 29 -- Sony will shutter its smartphone plant in Beijing by the end of the month and transfer production to Thailand as part of the Japanese electronics giant's efforts to halve output costs and return to profit in the next fiscal year, starting in April 2020.

The Tokyo-based firm's smartphone business has underperformed in recent times, losing JPY101 billion (USD915.8 million) over the past four quarters, according to the most recent financial report.

Sony will also restructure its mobile communications, and imaging and solutions business, as well as home entertainment and audio unit into its electronic products and solutions business, the firm announced recently, appointing Shigeki Ishizuka as an executive responsible for overseeing storage media business effective April 1.

Editor: William Clegg