DAVOS, Switzerland (Reuters) - Sony Corp (6758.T) is performing well but is concerned about the strength of the Japanese yen, Sony Chief Executive Howard Stringer said on Friday.
“There is always an impact on exports. The yen is volatile ... We watch it with some anxiety,” Stringer told Reuters at the World Economic Forum.
Stringer said Sony’s consumer electronics business was holding up well, despite the U.S. slowdown, with Playstation 3 (PS3) sales improving.
Electronics operations account for nearly three quarters of Sony’s total sales.
“PS3 has now gone past XBox on the Christmas market. It’s moving into its own as it gets into higher bandwidth ... PS3 is out of the woods and beginning to hold its own,” he said.
The PS3 initially trailed rivals, due to the Sony machine’s high price and an initial scarcity of strong software titles. But PS3 demand has shown some signs of picking up since the company cut prices and launched a new version.
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Reporting by Ben Hirschler; editing by Sue Thomas