Sony Expects Smartphone Rebound Only in 2024 After China Fizzles

(Bloomberg) — 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 U.S.

The electronics and entertainment conglomerate, a key supplier to device leaders including Apple Inc., 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.