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Sony: U.S. electronics unaffected by shaky economy

Reuters, Tokyo - Kiyoshi Takenaka, Tue Dec 11, 2007:

Sony's consumer electronics business in the key U.S. market has not been affected by the shaky economy, and it is on track to hit a 5 percent operating margin for the year ending March 31, Chief Executive Howard Stringer told a group of reporters at a round table meeting on Tuesday.

The margin target has been considered the most visible indicator of success for turnaround efforts by Stringer, who took Sony's helm in 2005.

"Black Friday turned out to be very good for consumer electronics sales, and very good for PS3 sales, PSP sales and beyond."

Black Friday, or the day after Thanksgiving, is the beginning of the Christmas holiday shopping season in the United States.

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