Sony Plans to Mimic Apple's Business Model

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Sony
SNE
wants to sell consumers the most expensive products possible, including high-end tablets and an 84-inch 4K television that is unlikely to retail for
less than five figures
.
It might sound like overkill, but this is actually the company's strategy to become more like its California-based competitor, Apple
AAPL
. This is a role-reversal for the two tech companies; not too long ago, Apple co-founder Steve Jobs wanted his firm to be more like Sony. "The whole strategy for Apple now is, if you will, to be the Sony of the computer business," Jobs told
Fortune
in November 1998. During that year, Sony was one of the world's largest tech manufacturers. PlayStation, the company's first console, had become the number-one home gaming device in the world. Four years later, Jobs told
Time Magazine
that he would, "rather compete with Sony than compete in another product category with Microsoft
MSFT
." At that time, Sony had produced the number-one game console, PlayStation 2, and was only months away from releasing Spider-Man, the year's number-one film with a domestic gross of more than
$400 million
. In more recent years, the Japanese tech giant has been struggling to build products that are both profitable and hugely popular. As of June 30, Sony has sold
more than two million
PS Vita units, meeting the company's
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internal expectations
. However, Apple sold
17 million iPads
in just one quarter alone. Sony hopes that it can imitate Apple's success by selling its own brand of high-end products, starting with a $399 tablet that
looks a lot like
Microsoft's first tablet, Surface. Phil Molyneux, the president and COO of Sony's U.S. division, told
ABC News
that consumers can expect to see, "more of this great innovation at the higher end and the more premium segment." "We will put more emphasis there," he said. Sony also hopes to profit by telling the story of Apple's founder. In 2011, the company
acquired the film rights
to the authorized Steve Jobs biography by Walter Isaacson.
Follow me @LouisBedigianBZ
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Posted In: NewsTechGeneralAppleiPadPS VitaSonyWalter Isaacson
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