After years of unfulfilled promise, high definition TVs are finally starting to take hold. And one company at the heart of this high def revolution is Sony (SNE). The company's been on a roll as a weak yen and strong sales of its consumer products have lifted the stock 7% year to date. Could high def lift the stock even higher?
Stan Glasgow is the President and Chief Operating Officer of Sony Electronics. He joins the guys for this conversation. Here are excerpts from what was said.
Can Sony overcome missteps in PlayStation?
“We have a lot of products that are very successful,” says Glasgow. “And the PlayStation is an investment for the company. Our core productions are a range of high definition products and they’re very successful in the US market.”
When do you expect the investment to show return?
“You’re asking me to be a soothsayer for the future,” replies Glasgow with a smile. “I can tell you the company is doing very well in the United States, we have a range of high def products and we’re starting our largest marketing (US) campaign… of over $100 million.
He adds, “(The campaign) ranges from our broadcast products all the way through television, computers, camcorders, digital, still cameras and blue ray players.”
Where are you focusing that money?
“We are spending the money across our entire range of products. We make excellent products that are at a premium,” says Glasgow. “We do compete with many different competitors and some of our retailers are competitors to us. That is the business, today.”
What’s your yen liability?
“Certainly the yen has impact, but most of our US arrangements are done in US dollars so the impact here will be minimal.”
Dylan Ratigan asks the guys what they think of this stock?
None of them like it.
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Trader disclosure: On Aug 16 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money; Macke Owns (INTC); (JWN); Najarian Owns (TMA); Najarian Is Short (GS); Najarian Owns (AA) Calls; Najarian Owns Straddles In (ETFC); Bolling Owns Gold; Bolling Is Short (FXI) And Owns (FXI) Put,; Bolling Has Closed Out Of His Long Japanese Yen Futures Trade