Sony Looks to Double Revenues in Brazil, Russia, India, China

TOKYO, June 27: Sony has
announced a slate of new strategic goals for the next few years, including
doubling its annual revenues from Brazil, Russia, India and China by 2010, and
adding downloadable video content to its PlayStation gaming console by this
summer.

The electronics and
entertainment conglomerate has earmarked an investment of 1.8 trillion yen into
its key businesses and technologies over the next three years.

Key goals include strengthening
its core electronics businesses of LCD TVs, digital imaging, gaming and mobile
phones. It aims to develop its PC, Blu-ray disc-related products and
component/semiconductor segments into “trillion-yen businesses” by the end of
fiscal 2010. “Significantly” improving the TV business is also a priority, with
plans to cut costs in order to reach profitability in the financial year ending
March 31, 2009. The goal is to be the number one supplier of LCD TVs by fiscal
2010.

In the gaming segment,
Sony is planning expanded content and services, further rollout of the PS3 and
continued cost reductions. Films and TV products will soon be available for
download to BRAVIA LCD TVs, the PS3, PSP and Walkman video music players. This
November, for example, the Sony Pictures Entertainment summer release Hancock with Will Smith will be available exclusively to
all Internet-connected BRAVIA LCD TVs in the U.S. before it is available on
DVD.

The BRIC
markets—Brazil, Russia, India and China—are a core focus for Sony
going forward across its electronics, game and filmed-entertainment divisions,
among other businesses. Sony will target annual sales of 2 trillion yen in the
BRIC countries by fiscal 2010.

Eco-friendly initiatives
are also on the cards with “Green Management 2010,” a series of mid-term
environmental targets that include a 7-percent reduction in greenhouse gas
emissions by FY2010 compared to the level of FY2000.

—By Mansha Daswani