Sony readies for its second act in China

Sony Corp's President and Chief Executive Officer Kazuo Hirai presents a new Sony Xperia Z1 smartphone during it's world premier at the IFA consumer electronics fair in Berlin, Sept 4, 2013. [Photo/Agencies]

China has become one of the top three markets for Sony Corp, alongside the United States and Japan, and will play a vital role in Sony's comeback, according to the head of the company.

Kazuo Hirai, president and chief executive officer of Sony, said emerging markets, with China at the forefront, occupy a unique position in the company's global strategy. The Japanese electronics giant plans to increase sales by 40 percent in these markets within the three years that end in 2014.

"China has growth potential that far exceeds that of the United States and Japan," Hirai said as he discussed features of the Chinese market. He made the remarks in an interview with China Daily at the 2013 Sony Expo in Shanghai.

China's continued rapid development of urban and network infrastructure, its burgeoning middle class and vibrant young generation all point to enormous growth potential, Hirai noted.

While China remains an important market for Sony's electronics business, the company also wants to sell its gaming, music and movie products in the country, Hirai said.

Sony is still struggling, but recent positive market response in China has boosted the company's confidence. According to Sony China President Nobuki Kurita, sales of major Sony products, such as TVs, increased by more than 40 percent year-on-year during the country's National Day (Oct 1) sales season this year.

"We are certain we will realize a double-digit growth rate in our electronics business in China during the 2013 fiscal year," Kurita said.

Sony, along with South Korea-based Samsung Electronics Co Ltd, became the first group of handset vendors to offer fourth-generation (4G) smartphones to Chinese consumers.

The Sony Xperia SP, the first Sony device supporting China Mobile Ltd's 4G network, was available in such cities as Beijing starting in November.

"We aim to grab a larger share of China's smartphone market," Hirai said. "When our products and sales networks are ready, we will launch significant market campaigns (in the country)."