Sony Struggling to Compete with Apple and Samsung
The biggest electronics exporter, Sony Corp. (6758), in Japan, has announced a cut in its projected profit for the year. A recent report said that the same is owing to the fall in box-office receipts for the films.
The demand for digital cameras and televisions has also plunged. Therefore, the predictions have faced a plummet at the same time.
The company said that the net income would be nearly 30 billion yen by March 2014. The projection for August profit has been cut for 50 billion yen. The Tokyo-based firm even reported a loss in the second quarter.
The new estimation is less as compared to the estimates by 20 analysts at 50.5 billion-yen.
The report said that Sony was really struggling to survive in the market. `Samsung Electronics Co.' as well as `Apple Inc.' is a way ahead of Sony in mobile devices. Sony is even fighting the lowering demand for personal computers, TVs and camcorders. Emerging-market currencies are also weaker, which is a constraint for Sony.
"Sony's electronics businesses have been worsening on weaker demand for many of its products. The TV market is mostly saturated while smartphones have eroded demand for digital cameras, camcorders and game players", said analyst Koki Shiraishi, from SMBC Nikko Securities Inc., Tokyo.
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