Sony Mobile is cutting 1,000 jobs from its phone division after posting record losses this financial year. The embattled Japanese company posted record losses of US$5.6bn in March this year, with two-thirds of the jobs cut to fall on its Sony Mobile division in Lund, Sweden. The loss-making electronics firm reveals the job losses are part of its already announced plan to reduce 10,000 by early 2013 as the company tries to return to profitability. With a slow demand for TVs and a strengthening yen, the company will move its corporate headquarters from Sweden to Japan (Tokyo) seeking to "increase operational efficiency, streamline supply chain management and drive greater integration with the wider Sony group." "Sony has identified the mobile business as one of its core businesses and the Xperia smartphone portfolio continues to gain momentum with customers and consumers worldwide," says Kunimasa Suzuki, president and CEO of Sony Mobile.