Sony Phils sees 30% growth

After posting sales of P3.5 billion for its fiscal year 2005 which ended in March this year, Sony Philippines Inc. is optimistically projecting a growth of 30 percent this year, according to Hiroaki Kobayashi, Sony Philippines president and chief executive officer.

In an interview with reporters, Kobayashi said that Sony officially and conservatively set a 10 percent growth target for this year.

However, Sony Philippines’ internal projection, Kobayashi confidently revealed is a much higher 30 percent due to strong sales early this year of its liquid crystal display (LCD) high-definition televisions (HDTV) and DVD camcorder.

The LCD-HDTVs and DVD camcorders, Kobayashi said, were only introduced to the Philippine market in February this year and yet sales this early has been four to five times higher than last year.

Sony Philippines has also embarked on a summer price promotion, slashing its prices for its whole range of LCD-HDTVs, camcorders, cameras and audio products.

The LCD TVs are Sony’s main competition to the technically inferior plasma TVs.

According to Toshiya Kagita, vice president for sales and marketing of Sony Philippines, LCD TVs are technically superior to plasma TVs and should therefore not be considered "competitors".

Sony LCD TVs, Kagita pointed out, have one mega pixels compared to plasma TVs’ 0.4 megapixels only.

Sony’s additional selling point, Kobayashi and Kagita pointed out, is its concept of offering integrated digital solutions providing a complete home entertainment as well as video recording connectivity experience.

Sony televisions and camcorders, Kobayashi said, account for 30 percent to 40 percent of Sony’s total sales.

Sony’s new DVD camcorders, Kobayashi and Kagita explained, now allow immediate recording and playback on DVD discs and immediate enjoyment on Sony’s surround sound home entertainment center.

Sony has also been introducing a new concept in marketing, putting up Digital Solutions Plaza in at least three major shopping outlets, specifically at SM Megamall, Araneta Gateway Mall and yesterday at Anson’s Shopping Center in Makati along Pasay Road.

The Digital Solutions Plaza, Kobayashi explained, allows buyers to view for themselves the whole range of Sony products from televisions, LCD-HDTVs, monitors, audio and recording systems, camcorders and cameras and accessories.

Kobayashi predicts that in less than a year Filipinos will easily and eagerly adopt the latest technologies.

The Filipinos’ facility with the English language, Kobayashi observed, also allows them to quickly learn how to use the latest technological products.

Because of the Filipinos’ ability to adopt the latest technologies, Kobayashi said, Sony launches most of its latest models in the Philippines almost the same time as it does in the US and Europe.

Thus, Kobayashi was quick to dispel misperceptions that Sony products sold in the Philippines are not the latest models.