Sony Corporation (SNE - Free Report) is ramping up production level of its next-generation 3D camera sensors for 2019 in response to rising interest from several customers like Apple Inc. (AAPL - Free Report) .
Notably, various smartphone manufacturers are likely to leverage Sony’s camera chips to power both the front- and rear-facing 3D cameras of their models next year. Further, the company is working on providing separate software toolkits to outside developers, which will help in boosting in-store and online customer experience.
Going forward, Sony expects demand for image sensors for mobile products to grow, which will drive Semiconductors sales. Over the past couple of years, the company has been making a series of concerted efforts to attain a leaner organizational structure to augment growth. It announced a number of changes in its internal administration and reshuffled its operating segments.
Also, the company has also undertaken a number of measures in its Branded Product Business, including Mobile Communications, Imaging Product & Solutions and Home Entertainment & Sound segments, to ensure stronger growth. A number of measures, including cost-reduction initiatives and reduction in advertising & promotion expenses, are expected to benefit this business in the long run.
Notably, the Zacks Rank #2 (Buy) company’s shares have appreciated 8% over the past year against the industry’s decline of 1.5%.
Moreover, Sony has launched a few products, which will likely supplement sales in the long run. Notably, the company is presently focusing on high value-added models such as 4K TVs to improve the product mix. It continues to strengthen its business through accretive acquisitions and joint ventures, which will help it develop new products, broaden customer base and market share.
Other Stocks to Consider
A couple of other top-ranked stocks from the same space are Ralph Lauren Corporation (RL - Free Report) and Casa Systems, Inc. (CASA - Free Report) . Both these companies carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Ralph Lauren surpassed estimates in each of the trailing four quarters, the average positive earnings surprise being 7.04%.
Casa Systems outpaced estimates thrice in the preceding four quarters, the average earnings surprise being 29.67%.
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