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Sony poised for 20% sales growth in Middle East, Africa

aro Kimura, Managing Director, Sony Middle East and Africa says the company has witnessed a very strong upswing in the business across all three of its priority segments

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Sony Corporation has reported strong sales and operating revenue performance for the second quarter of 2017, with a year-on-year increase of 22.1% compared to the same quarter of the previous fiscal year.

Ending September 30, 2017, the Ksh 1.9 trillion (US$18.25 billion) increase was primarily attributed to the impact of foreign exchange rates and a 15% increase in Game & Network Services (G&NS) segment sales, on a constant currency basis.

The operating income for this quarter increased to Ksh 145 billion (US$1.40 billion) year-on-year to Ksh 187 billion (US$1.8 billion), a 346.4% rise. Contributing to the income growth was the increasing sales of Imaging Products and Solutions (IP&S), which posted a 15.8% year-on-year growth amounting to (US$1.4 billion). Sales for the Home Entertainment & Sound (HE&S) segment were also up by 28.1% year-on-year amounting to Ksh 270 billion (US$2.6 billion).

READ: Kenyan real estate firm clinches Sh47b financing deal

Sony Middle East and Africa (MEA) is on track to achieving the targeted 20% growth in the region in 2017. Reviewing the company’s half year performance, Taro Kimura, Managing Director, Sony Middle East and Africa said: “This year, we have seen a very strong upswing in the business across all three of Sony’s priority segments.  In the television category, our new range of BRAVIA 4K HDR TVs and BRAVIA OLED TVs have been well-accepted by the market and we are estimating a growth of 22% in 2017.

“In the audio business we are growing by 28%. The ambitious growth expectations in the audio category are spurred by the overwhelming acceptance of the company’s high power audio system MHC-V90DW. In digital imaging, the recently introduced Alpha A9 camera has been a huge success with a 21% growth projection and the gains will be reinforced with more new cameras and lens introductions later this year”

Business Today is the leading independent online business website in Kenya. Started in 2012 by a veteran business journalist, it has a huge following both in Kenya and abroad. It covers various business and related issues. Email editor at: [email protected]

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