Sony, the multinational conglomerate with interests in electronics, gaming, entertainment and financial services sectors is looking to massively increase its market share and more than double its earnings in Africa.

The company intends to open a “Sony experience” show room in Kampala later this year as it looks to expand that to 143 Sony branded stores in Africa by March next year from 88 at present.

“We have a clear plan for Uganda. We are setting up a Sony experience center in Uganda later this year,” said Hiroyasu Sugiyama, Managing Director, Sony Middle East and Africa FZE.

He made the comments at a media briefing at the Pavilion, Clock Tower Victoria & Albert Waterfront in Capetown, South Africa.

The announcement comes on the heels of the company’s first full year profit of $435m (sh1.2trillion) in five years in the year 2012.

The company shed 6% of its workforce or 10,000 jobs to achieve the feat according to the Financial Times.
Sugiyama noted that Africa is now relatively more politically stable, stronger economically with significant growth in the disposable incomes of most residents.

The company has projected to make revenues of $1. 4b (sh3.6trillion) from business interests in Africa by the year 2015 through regional specific operations, and electronic gadget sales.

Sony is the dominant player in Africa’s audio products markets at 40%. The company intends to build on this statistic through custom made electronic devices and higher investment in community projects.

A total 164 delegates attended a Sony conference in Capetown, South Africa recently where a wide range of electronic devices where showcased including the water proof Xperia smart phone.

“When we talk about African customers, we should not misunderstand that African consumers choose products only for price.

Research by Accenture shows us that 60% of these consumers are brand loyal and 40% are willing to pay a right premium for quality products that delight them,” Sugiyama said.
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