Sony looks to emerging markets for new start
[Quote:]
Sony will reach out to consumers in emerging economies as part of a growth drive after several years of sweeping changes and job cuts.
Chief executive Sir Howard Stringer announced today that Sony will invest ¥1.8 trillion (£8.6bn) over the next three years on new technology and expanding its business beyond the traditional markets of Japan, North America and Europe. He also said the company is aiming to return to profitability in its game and TV businesses this fiscal year.
“Our mission is simply to be the leading global provider of networked consumer electronics and entertainment,” Stringer said at a news conference. “Sony will be united. Sony will succeed.”
[..]
“If you’re looking for exotic, look at the network-enabled world,” he said, before damning his rival with faint praise. “Apple is a marvellous company, but it is a boutique. We are a giant conglomerate.”
As for just how giant, Sony’s current market cap is about $44 billion. Apple is $149 billion.