(Yicai Global) Sept. 25 -- China's online entertainment market should expand by more than 30 percent this year and Japan's Sony is well-prepared to surf that wave, according to the chairman of Sony China.

The market's value may exceed CNY500 billion (USD73.3 billion) by the end of December, Hiroshi Takahashi said in an interview with Yicai Global yesterday.

Already rapidly expanding thanks to technology and shifting consumer behavior, online entertainment in China -- everything from esports gaming and video streaming to cable television -- received a significant boost this year as people stayed at home to contain the spread of the novel coronavirus.

Tokyo-based Sony is working with Chinese partners to develop the market with its intellectual property in animation, movies, television series, games, and music, Takahashi said. 

In April, the company spent USD400 million for a nearly 5 percent stake in Chinese video streaming platform Bilibili that mainly targets young users. The pair have been cooperating in content distribution and other areas and trust each other, according to Takahashi.

Besides videos, Sony is zoning in on audio content. The firm is actively contacting mobile game and music platforms to use its immersive 360 Reality Audio technology that is already featured by Huawei Technologies' handsets, he said. 

Despite its repositioning as a creative entertainment company, Sony has not forgotten about hardware. Consumer electronics are tools for creators to get their messages to other users, Takahashi explained. 

Much of the company's hardware focus lies in video creation. The firm is working hard to develop more convenient and affordable filming solutions, while identifying interest groups to make niche products that respond to their needs, he said.

Some of that innovation should be seen in smartphones. Sony will launch a new mobile phone product, featuring advanced filming functions, in China next month, Takahashi said.

Sony has research and development staff in China working on high-quality image sensors that can be used in autonomous vehicles. When Sony's Chinese partners release their driverless vehicles, it will be showtime for the electronics firm too, Takahashi hinted.

Moreover, Sony has its ultra-high-definition TV sets to promote, while the next Summer Olympics in Tokyo and Beijing's 2022 Winter Olympics should be good opportunities in that regard. 

Editors: Tang Shihua, Emmi Laine