Sony unveils new smartphone in bid for top three ranking

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http://sg.news.yahoo.com/sony-unveils-smartphone-bid-top-three-ranking-221253499--finance.html

Sony Corp. unveiled a new smartphone on Wednesday in its push to become the world's third-biggest maker of smartphones after Samsung and Apple.

Sony's Chief Executive Kazuo Hirai told a news conference in Berlin, where Europe's largest consumer electronics trade show will open its doors this week, the Sony Xperia Z1 will be available in September.

"The Xperia Z1 embodies everything Sony has to offer," said Hirai, who is under pressure from U.S. hedge fund manager Daniel Loeb to split up the company to revive its electronics business.

The new waterproof smartphone will come with a 5-inch display and have a 20.7 megapixel rear-facing camera.

Sony's goal is to fend off challenges from China's Huawei Technologies and ZTE Corp and Korea's LG Electronics to secure the No. 3 slot in the global smartphone market, behind Samsung and Apple which between them account for about half of all smartphones sold, according to Gartner data.

The company did not give a retail price nor say which carriers would offer the phone.