Two big companies that are well-known smartphone manufacturers are facing tough times. Both HTC and Sony are struggling making profit, but if nothing changes, Sony could exit the smartphone business. This could be the next big thing after we lost Nokia.

According to Sony's Chief Executive Kazuo Hirai, if Sony doesn't break even following 2016, there are some alternative options. Since the company already sold its PC business, it wouldn't be a surprise to exit smartphone market.

Recent cost cutting nd restructuring measures haven't helped much, since the company is expected to post a 60 billion yen ($480 million) loss this year, a much higher than the anticipated 39 billion yen ($310 million).