Boston, MA 05/10/2013 (wallstreetpr) – Despite sincere attempts to recapture the lost market share through new Xperia smart phones and Bravia televisions, SONY CORPORATION (TYO:6758) (Current: JPY 1,787.00, Up by 2.47%) could not manage to meet the expert estimates of profits and revenue.
Growing Competition
The intense and growing competition from Samsung Electronics Co. Ltd. (KRX:005930) (Current: KRX 1,476,000, Down by 2.57%) had pushed SONY CORPORATION (TYO:6758) to register decline in sales and hence lower profit estimates. The flat televisions of Samsung managed to generate more than three times the revenue of Sony Corp. to the South Korea based Samsung Electronics Co. Ltd. (KRX:005930). Further, the smart phones of Samsung outsold Sony Xperia phones by ratio of 7:1.
Targets For The Year
Despite such increasing competition, Sony Corp. is confident to improve its sale through new series of Xperia phones and Bravia televisions. Sony Corp. (JP:6758) is all set to hit this fiscal year with target sales of 16 million televisions with its ultra high definition screen which ensures four times sharper and clearer pictures than provided by other conventional televisions in the market.
In addition, Sony Corp. expects its smart phone sales to increase to 42 million units for this fiscal year compared to the 33 million units for the previous year. All such high targets, if met, will ensure higher operating profits and revenues for Sony Corp. Though the analysts are skeptic on how Sony Corp. would reach these targets, the company is confident that its new approach to games, camera, mobile devices and televisions would ensure good market share in the fiscal year.
