FLAGGING FORTUNES: Sony Corp's bid for revival as a consumer electronics maker this business year will hinge on the fortunes of its latest smartphones, as it struggles with shrinking sales of its TVs, digital cameras and game consoles.
With consumer spending converging on Apple Inc's iPads and Samsung Electronics Co's Galaxy phones, Sony on Thursday forecast smartphone sales to rise more than one-fourth to 42 million in the year to next March. It predicted sales of its digital cameras and Playstation consoles would contract at double-digit rates.
Its 5in screen Xperia Z smartphone has exceeded the company's sales expectations since its launch in January, but it faces an uphill battle against Chinese rivals and Samsung and Apple.
