Sony taps high-end segment for growth

Sony Corp Ltd is altering its growth strategy for China to focus on the high-end market and younger consumers, its President and Chief Executive Officer Kazuo Hirai said in Shanghai on Friday.

He said its entertainment arm will be the pillar of its business in China, and the Japanese electronics giant's best-seller PlayStation 4 will be introduced to the market soon.

Sony is creating a joint venture with Shanghai Oriental Pearl (Group) Co Ltd, based in China (Shanghai) Pilot Free Trade Zone, in preparation of the Playstation's arrival.