After its resounding success in Las Vegas, Sony Electronics – an affiliate of Sony Corporation (SNE - Free Report) – aims to replicate the feat by introducing the digital cinema viewing experience in Texas. The company intends to launch the premium large-format digital theater at Galaxy Theatres’ newest venue at Grandscape by spring of 2020.
Grandscape showcases a state-of-the-art mixed-use lifestyle complex featuring shopping, dining and other star attractions. Sony intends to leverage this prime locational advantage by offering an 85,000-square-foot luxury dine-in theater with 15 screens. Catering to the nearby Dallas/Fort Worth neighborhood, the digital theatre is expected to serve as the anchor for Grandscape’s entertainment district.
Each of the 15 screens of the theatre will be equipped with the latest 4K laser digital cinema projectors, which enhance picture quality by combining clarity with optimum brightness, color and contrast ratio. The immersive space will also offer more than 250 stadium-style reclining seats and dynamic sound qualities for real-life cinema viewing experience.
Notably, Sony introduced its first global digital theatre in Galaxy Theatres’ Las Vegas Boulevard Mall venue in April this year. The premium large-format digital theatres provided a perfect way to visually and emotionally connect and engage fans with big screen stories. In addition to superior picture quality, the auditoriums feature Dolby Atmos sound from Dolby Laboratories, Inc. (DLB - Free Report) , making them an instant hit with movie buffs.
Over the years, Sony has been actively working with the world’s biggest theater chains and art house cinemas to provide exceptional products and service to improve the movie-going experience. With innovative product portfolio of 4K, laser, lamp, HDR, 2D and 3D projection technology options, the company has significantly improved the cinematic experience of the audience, who often do not mind to shell out extra bucks for it.
Sony has also undertaken a number of measures in its Branded Product Business, which includes Mobile Communications, Imaging Product & Solutions, and Home Entertainment & Sound segments, to ensure stronger growth. A number of measures like cost-reduction initiatives, lower exposure in low-profit geographic regions and reduction in advertising & promotion expenses are expected to benefit this business in the long run. Going forward, Sony plans to concentrate mainly on the premium segment of the branded products market to maximize its growth potential.
The stock has marginally outperformed the industry with a year-to-date return of 23.1% compared with growth of 20.5% for the latter.
Sony currently carries a Zacks Rank #3 (Hold). A couple of better-ranked stocks in the broader industry are Nokia Corporation (NOK - Free Report) and PCTEL, Inc. (PCTI - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Nokia beat earnings estimates thrice in the trailing four quarters, the average positive surprise being 89.3%.
PCTEL surpassed earnings estimates in each of the trailing four quarters, the average surprise being 110.4%.
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