Aligning growth plans with China's needs
A1 I am optimistic about the long-term prospects of China's economy. The trend of quality selection and consumption upgrading will not be reversed in the long run. For Sony as a whole, we are committed to creating new values with a synergy of innovative technologies, entertainment content and DTC (direct to customer) services. As a result, technology-driven hardware products, which offer premium experiences, bountiful entertainment content catering to varied tastes and comprehensive services provided to Sony fans, are the key areas of our improvements.
A2 I would like to focus on an increasingly prominent trait of young Chinese people. Take video blogging as an example, growing numbers of young people are sharing highlights of their lives and are communicating with people with similar interests. As a leading brand in digital imaging, Sony endeavors to provide Alpha and RX series cameras as well as auxiliary devices as a professional and quality choice for vloggers.
Sony Bravia TV is known for its picture and sound quality. Last month, we launched the U-8G TV series, which is designed to appeal to young people with its AI-powered smart functions, easily accessible entertainment content and unrivaled movie-watching and match-viewing experience.
The word "quality" means different things to different groups of people. Sony is adopting a strategy of "getting closer to people" toward "community of interests", designing and implementing products and marketing plans based on insights obtained from our interactions with Sony fans.
A3 There is no doubt that consumption will continue to be one resilient and promising part of the Chinese economy. Premium seeking based on individual tastes will remain a driving force. But as an industry-leading brand, Sony keenly feels the responsibility of triggering new demand with our technology innovations. In July, we launched two milestone products in China, a new-generation full-frame Alpha 7R IV camera and true wireless noise-canceling WF 1000X M3 earphones. Both have won industry and customer recognition, with the latter selling out as soon as they appeared on the market. It is clear that the market needs new ideas and customers yearn for new experiences, and innovation should be the key to meeting and even leading their cravings.
A4 With regard to the trade friction between the US and China and its effect on our business, Sony will continue to closely monitor ongoing developments and take appropriate steps.
A5 For new government policies, Sony will study each one and identify areas to utilize new opportunities. With a philosophy of "being deeply rooted in China, and aiming for long-term development", Sony is basing its growth in China on a comprehensive development of Chinese society.
A6 Definitely, China is both a hatchery and experimental front for new technologies. A good example is 5G, which has great capacity, massive connectivity and low latency, and is expected to bring real time (temporal value) and reality (spatial value), and safety and security to society. Sony believes 5G could bring new values to many fields of its vast portfolio such as content-making and broadcasting, self-driving cars, games, virtual reality, robotics, drones and remote surgery. China is a front-runner of 5G technology and its applications, and Sony will actively work with various stakeholders for new value propositions.
