Sony targets BRIC to boost networked electronics, LCD TV business

26 June 2008

Mumbai: Sony Corporation will expand its products and services in the networked electronics and video downloads market, mostly in the emerging markets, and aim for the top spot in LCD TVs as it grows its hardware and software capacities.

Sony, which makes PlayStation games and Vaio PCs, plans to double revenues from the fast-growing markets of Brazil, Russia, India and China to $18.5 billion (2 trillion yen)  and invest 1.8 trillion yen in key businesses and technologies as part of a three-year strategy.

This is part of a series of new initiatives designed to build on its three-year revitalisation plan, aimed at positioning the company as the leading global provider of networked consumer electronics and entertainment by 2011, Sony said in a release.

Sony said it plans to ''strengthen core businesses by enhancing network initiatives and leveraging international growth opportunities to build for the future and drive further growth and profits.''

Sony said it would make a strong push into networked electronics and video download services and aim for the top spot in LCD TVs as the firm seeks to make the most of its hardware and software assets for growth.

"So much more opportunities exist outside the core markets of Japan, North America and Europe," Sony chief executive Howard Stringer said.