Sony, the Japanese electronics giant, is expecting sales of $2.2bn (Dh8.08bn) from its Middle East and Africa operations by the end of this year, up from $2bn last year.
"We have had double-digit growth in the North African countries and East Africa," said Hiroyasu Sugiyama, the managing director of Sony Middle East and Africa. "Morocco and Algeria are growing the fastest and Kenya particularly are driving this growth."
It marks a positive note for Japan's biggest exporter of consumer electronics, which posted a net loss of ¥15.5bn (Dh709.9 million) for the third quarter of this year.
The company has faced stiff competition from the likes of Apple and Samsung and was badly affected by the Japanese earthquake and tsunami in March last year and the Thai floods in the second half of last year.
Factory and supplier damage drastically reduced production and supply, while the Arab Spring held back progress in the region.
"Sales in the GCC have been quite stable, but some countries that have had political turmoil, like Bahrain, have impacted sales," said Mr Sugiyama.
"I cannot say how much the impact has been, but sales could have grown faster. Sales are still stagnant in the countries that have been affected by the Arab Spring."
Despite these setbacks the company is positive it can return to profit by the end of the financial year.
Sony, with a recently appointed president, Kazuo Hirai, is looking to regain its former glory and focus more on its core products, especially its cameras and phones.
The company is also cutting 10,000 jobs as part of a global restructuring.
"We have exciting products, smartphones, radios... and digital imaging products, which are the fastest growing," said Mr Sugiyama.
Yesterday, the company launched three interchangeable-lens cameras, the Alpha SLT-A99, Nex-5R and Nex-6 in Dubai.
"Digital imaging will be one of Sony's core businesses and a very significant portion of our [research and development] investments have been allocated to developing unique technologies," said Mr Sugiyama.
Sales of interchangeable-lens cameras have been growing by 20 per cent year on year throughout the world.
"It is a big opportunity for us," said Mr Sugiyama, especially in the GCC.
Saudi Arabia is one of Sony's biggest markets. The company dominates there in handheld video cameras, with 72 per cent of the market share. However it lags significantly in digital single-lens reflex (DSLR) cameras in the kingdom, with just 3.7 per cent of the market.
In the UAE, Sony has a 40.6 per cent share of the handheld video camera market, 34.5 per cent of the compact camera market and 4 per cent of the DSLR market.
"We are a new entrant in the DSLR space and we hope with all these new technologies we'll be able to leapfrog," said Mathew Mathai, Sony's regional general manager for marketing and communications.
He said it was a difficult market to enter because customers tend to keep the same lenses when they buy a new camera body - in effect locking them into a single manufacturer over many product cycles.
"The change will not be as easy as the point-and-shoot cameras," he said. "But we are very optimistic."
The three new cameras will be available this month at branches of Jumbo Electronics, Sony's official distributor in the UAE.
thamid@thenational.ae
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
RESULT
Chelsea 2
Willian 13'
Ross Barkley 64'
Liverpool 0
First-round leaderbaord
-5 C Conners (Can)
-3 B Koepka (US), K Bradley (US), V Hovland (Nor), A Wise (US), S Horsfield (Eng), C Davis (Aus);
-2 C Morikawa (US), M Laird (Sco), C Tringale (US)
Selected others: -1 P Casey (Eng), R Fowler (US), T Hatton (Eng)
Level B DeChambeau (US), J Rose (Eng)
1 L Westwood (Eng), J Spieth (US)
3 R McIlroy (NI)
4 D Johnson (US)
Asia Cup 2018 final
Who: India v Bangladesh
When: Friday, 3.30pm, Dubai International Stadium
Watch: Live on OSN Cricket HD
Afghanistan Premier League - at a glance
Venue: Sharjah Cricket Stadium
Fixtures:
Tue, Oct 16, 8pm: Kandahar Knights v Kabul Zwanan; Wed, Oct 17, 4pm: Balkh Legends v Nangarhar Leopards; 8pm: Kandahar Knights v Paktia Panthers; Thu, Oct 18, 4pm: Balkh Legends v Kandahar Knights; 8pm: Kabul Zwanan v Paktia Panthers; Fri, Oct 19, 8pm: First semi-final; Sat, Oct 20, 8pm: Second semi-final; Sun, Oct 21, 8pm: final
Table:
1. Balkh Legends 6 5 1 10
2. Paktia Panthers 6 4 2 8
3. Kabul Zwanan 6 3 3 6
4. Nagarhar Leopards 7 2 5 4
5. Kandahar Knights 5 1 4 2
Farasan Boat: 128km Away from Anchorage
Director: Mowaffaq Alobaid
Stars: Abdulaziz Almadhi, Mohammed Al Akkasi, Ali Al Suhaibani
Rating: 4/5
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COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Vikram%20Vedha
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UAE currency: the story behind the money in your pockets
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
Killing of Qassem Suleimani
UAE currency: the story behind the money in your pockets
COMPANY%20PROFILE
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More from our neighbourhood series:
Scores
Rajasthan Royals 160-8 (20 ov)
Kolkata Knight Riders 163-3 (18.5 ov)
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Company profile
Company: Verity
Date started: May 2021
Founders: Kamal Al-Samarrai, Dina Shoman and Omar Al Sharif
Based: Dubai
Sector: FinTech
Size: four team members
Stage: Intially bootstrapped but recently closed its first pre-seed round of $800,000
Investors: Wamda, VentureSouq, Beyond Capital and regional angel investors
57%20Seconds
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Company profile
Date started: 2015
Founder: John Tsioris and Ioanna Angelidaki
Based: Dubai
Sector: Online grocery delivery
Staff: 200
Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends
A timeline of the Historical Dictionary of the Arabic Language
- 2018: Formal work begins
- November 2021: First 17 volumes launched
- November 2022: Additional 19 volumes released
- October 2023: Another 31 volumes released
- November 2024: All 127 volumes completed
The biog
Name: Capt Shadia Khasif
Position: Head of the Criminal Registration Department at Hatta police
Family: Five sons and three daughters
The first female investigator in Hatta.
Role Model: Father
She believes that there is a solution to every problem
