“This is a positive development for Sony. The listing of the financial unit will enable it to raise funds and improve its financial strength,” a fund manager at a Japanese asset management firm said.
Proceeds from the listing are likely to allow Sony, which is in the final year of a three-year turnaround plan under Chief Executive Howard Stringer, to pour more resources into such fast-growing but fiercely competitive areas such as the flat television business.
The Tokyo-based company competes head on with Samsung Electronics Co and Sharp Corp in the liquid crystal display TV market, while aiming to launch ultra-thin TVs using organic light-emitting diode (OLED) technology by December.
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Sony Gulf has revealed a new digital display technology at GITEX Technology Week that it claims will revolutionise the flat-screen television market, superseding current market leading technologies such as LCD and plasma.
Organic light emitting diode display (OLED) technology enables the production of super-thin, high-resolution displays with a contrast ratio of up to 1,000,000:1. Sony is showcasing an 11-inch commercial prototype display on its stand located in Sheikh Rashid Hall.
Managing director of Sony Gulf Osamu Miura says the OLED TV display forms a cornerstone of Sony’s long-term high definition (HD) product strategy.
