Back of the net! Sony is a World Cup winner as sales of large screen televisions soar
Manufacturer Sony has been a World Cup winner, with sales of televisions soaring as football fans ditched their old sets for new models.
The company said sales at Sony Europe, which files accounts in Britain, increased by 10 per cent to £3.5 billion, bouncing back from a slide the previous year.
Goal: World Cup fever this summer has been behind a big increase in sales of televisions
The figures, for the year to March, reveal that television sales rose 13 per cent while ‘video and sound’ increased 14 per cent amid strong demand for headphones.
The company said it had been a ‘successful year’ after it improved its online and in-store experiences.
‘These initiatives have enabled us to be market leader for high-value digital cameras and to gain market share in several key sectors such as premium TV and headsets,’ it added.
Iconic: Gareth Southgate in his waistcoat
But a loss of £16.5 million was recorded, in sharp contrast to a profit of £63 million the previous year. Sony blamed a ‘severe business environment, particularly price competition’. It also cited currency swings.
John Lewis said on Tuesday that TV sales had increased by 20 per cent as shoppers snapped up large-screen models to follow the fortunes of Gareth Southgate’s England team.
Sales had risen by 140 per cent on the day the tournament started compared to the same day last year.
The falling price of large screens has given a boost to the market while new models with curved screens and thinner frames have persuaded many shoppers to splash out.
Other retailers benefiting from the World Cup included Marks & Spencer which saw a lift in sales after Southgate made one of its waistcoats iconic.