Sony aims for more clients, 20 percent sales growth in image sensors

By MoneyTimes

Jun 11, 2015 08:57 AM EDT

Electronics giant Sony Corp's sophisticated image sensors are being used by top smartphone makers Apple Inc and Samsung Electronics to build their products. The image sensors has turned out to be Sony's top-selling product, giving a boost to the company's ailing financial health.

Now Sony wants to expand its customer base for its image sensors beyond Apple, Samsung and other smartphone brands so that it can increase sale of its image sensors. Sony is aiming at a 20 percent growth in the said category.

Following years of losses in Sony's core electronics, the company is employing a new strategy where Sony's image sensors division will play a vital role for its overall sales and profit growth.

According to Sony, its image sensor technology is two years ahead of its nearest competitors. This is the reason why top smartphone makers are using its technology in their products. Also recently, Sony entered a joint venture with Olympus to produce endoscopes and other medical equipment. 

"The sale of image sensor will grow by about 100 billion yen ($804 million) to 550 billion yen in the year ending March", Tomoyuki Suzuki, head of Sony's device solutions business said.There is very good demand for image sensors at the moment, Suzuki told Reuters

According to USA Today, Sony's sale to external customers rose to $7.98 billion last year and operating profits in the Devices Division hit a record $776 million. Profit is expected to grow to $1.01 billion next year.

Sony also plans to spend $1.75 billion to expand capacity this year.

Back in the day, Sony was well-known for making groundbreaking consumer electronics products like the Walkman and PlayStation video game consoles.

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