NEW YORK – Sony Corp. (SNE) said on Monday U.S. sales of electronics have been better than expected so far this holiday shopping season, fueled by demand for flat panel televisions and digital cameras.
Stan Glasgow, president and chief operation officer of Sony Electronics, the Japanese company's $11 billion electronics arm, said Sony had stayed away from the deep discounts that spurred thousands to crowd stores on "Black Friday," the day after the U.S. Thanksgiving Holiday.
"We are not a promotional company — Sony is a premium brand and we don't become the loss leaders in the industry," said Glasgow on the sidelines of a media briefing in New York. "We generally don't expect to have a very good Thanksgiving or just-after Thanksgiving. It's been better than we expected and projected."
Glasgow said he was unsure what specifically drove demand for Sony products, but said consumers may have turned to Sony's brand of televisions and other electronics after limited supplies of other promotional products were exhausted.
The news would be one of the few bright lights for Sony Corp., which has been punished this year by several flaps, including delays in the debut of its new PlayStation 3 game console, defects in its Cyber-Shot digital cameras, and the recall of millions of personal computer batteries.