CEDIA Expo Keynote: Fasulo, on CEDIA’s & Sony’s Premium-Product Parallel Paths
Sony Electronics president and COO Mike Fasulo affirmed his company’s commitment to the CEDIA channel in a keynote address presented on the eve of the organization’s 24th annual Expo Wednesday at Denver’s Colorado Convention Center. At the same time, he acknowledged the group’s 25th anniversary, kicking off a celebration of longevity for CEDIA that will flavor this year’s convention, which lasts through Sept. 13.
In the course of his speech, Fasulo drew parallels between CEDIA and Sony, saying both were innovators in their approach to home entertainment and acknowledging missteps along their decades-long parallel paths that were partially due to the recession and the fall of the housing market but also due to “lack of focus and loss of direction.”
However, Fasulo said, “Sony and CEDIA are on the rise again,” as he cited 2013 sales percentage rises for Sony in projectors (up 11 percent), TVs (up 40 percent) and components (up 10 percent). These figures were given after Richard Millson of Millson Technologies – the CEDIA executive secretary who spoke ahead of Fasulo – told the audience that CEDIA survey results had shown upticks between 2011 and 2013 in CEDIA members’ numbers of projects (up 13 percent), annual gross revenue (up 54 percent), and operating profit (up 130 percent).