Sony Corp (ADR) (NYSE:SNE) has the momentum in the gaming industry today, Lewis Ward said in a discussion on CNBC.
The comment about Sony Corp (ADR) (NYSE:SNE) comes as the diversified Japanese technology company reported better performance for quarter which ended on June, the company’s first quarter of the 2014 fiscal year.
According to Ward who is the Gaming Director at research firm IDC, Sony Corp (ADR) (NYSE:SNE), compared to rivals in the gaming space such as Microsoft Corporation (NASDAQ:MSFT) and Nintendo Co., Ltd (ADR) (OTCMKTS:NTDOY), has the momentum.
“I think you have to give it to Sony right now. They have really come strong out of the gate with the PS4. I think it’s selling quite well. I don’t know that the games lineup is particularly strong this year but then again I don’t think that Microsoft’s or the Wii U’s lineup is out of this world this year either. So, right now, I still think you have to say that Sony has all the momentum right now,” he explained.
Nonetheless, Ward said that he believes the competitors of Sony Corp (ADR) (NYSE:SNE) eventually will significantly close the sales gap between their gaming products and that of the Japanese giant’s.
Meanwhile, the analyst was also asked how Sony Corp (ADR) (NYSE:SNE) is doing with respect to its general business which includes interest in smartphones and other consumer electronics gadgets. According to Ward, the company is going to have to give much effort in terms of their restructuring and how they will get more of the markets they are in. For example, Apple Inc. (NASDAQ:AAPL) is so entrenched in the premium market for smartphones, he said, that it will be hard for Sony to be in its historical position to be in the premium category spot in this space.
Disclosure: None
Suggested Articles:
Best Paying Medical Specialties
