Sony expects high growth
Sony Thai, the local unit of the Japanese electronics and entertainment giant, is confident it will achieve sales growth of 12 per cent this year, to reach Bt16.8 billion, despite the sluggish state of the economy.
The company yesterday announced sales of Bt15 billion in the fiscal year from April 2006 to March 2007. This was an increase of only 4 per cent over the previous fiscal year. Thirty per cent of the sales came from television and liquid crystal display (LCD) products, 40 per cent from digital imaging products, including digital cameras and camcorders, and the rest from notebook computers and audio visual products.Sony Thai managing director Kazuo Suyama said consumer behaviour had changed, with less being spent because of concern about future earnings. However, the company believes its innovative products, which combine high-end technology and colourful design, will match customers' lifestyles and attract purchases. As a result, the company believes it will achieve higher sales growth in the current fiscal year. "We know that consumers will be concerned about their benefits from every purchase," he said. "Because we offer innovative products, our customers will be getting more value for their purchase than if they buy the products of our competitors." Sony's "innovative products" push will cover only five categories, including the high-definition Bravia S LCD TV series, Handy camcorders, Cyber-shot digital cameras, Vios notebook computers and audio music systems. "All of our products will offer innovations and more functions to serve the modern lifestyles of the younger generations, aged between 15 and 35. This group has the purchasing power to buy and enjoy our innovative products," Suyama said. Currently, the company has 275,000 My Sony members and this figure is expected to reach 500,000 this year. These people make up Sony Thai's customer database, helping the company to develop its innovative products. To help achieve its sales growth target, Sony Thai has set aside a marketing budget of Bt1.2 billion to promote its innovative products. This is an increase of 20 per cent over last year. The company plans to combine mass-media advertising and event marketing to drive its sales. Suyama said Sony Thai would use both music and sports marketing this year, following Sony Corp's recent US$305-million (Bt10.54 billion) partnership agreement with Fifa to become the main football World Cup sponsor until 2014. Somluck Srimalee The Nation
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