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Sony Slashing Prices On TVs, PS3 Says Samsung

Fri Jul 31, 2009 at 01:00 PM ET
Tags: Samsung, Sony, High-Def Retailing (all tags)

Samsung remains confident of success this holiday season due in part to expected moves by industry giant Sony.

In a conversation with Australian lifestyle and technology site Smarthouse, Samsung’s Mark Leathan confirmed that Sony is planning massive price cuts this holiday season.

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“We are aware that Sony is looking to slash prices as we talk to the same retailers,q however we are not worried as we intend to launch extensive marketing activities going into the peak Christmas/New Year period.” Said Leathan, marketing manager of Samsung’s consumer electronics division, “We also have several new products coming that will excite the market”

While price cuts are certainly intended to spur sales, the bigger goal is to get more Sony products into more houses, meaning more future sales. Stores looking at margin and profit, not just price, are less than enthusiastic. Harvey Norman is a large home theater chain based out of Australia. According to one franchisee, the price cut may backfire a bit “There is very little margin in TV's and the last thing we need is less margin.”

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