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SNE - Sony Corporation
Sony Corporation designs, develops, manufactures, and sells electronic equipment, instruments, and devices for consumer, professional, and industrial markets worldwide. It offers LCD televisions; Blu-ray disc players and recorders, home audio, headphones, and memory-based portable audio devices; compact digital, interchangeable single-lens, and video cameras; professional solutions, such as broadcast- and professional-use products; and personal computers. The company also develops, produces, markets, and distributes PlayStation4, PlayStation3, PlayStation Vita, and PlayStation Portable hardware and related package software. In addition, it provides CMOS image sensors, CCDs, system LSIs, and other semiconductors; batteries, audio/video/data recording media, storage media, and optical pickups; and chemical products comprising materials and components for electronic devices, such as anisotropic conductive films
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Japanese electronics giant Sony posted a 666.5 percent rise in pretax profit for its full fiscal year on Thursday, helped by cost cutting in its smartphone business and the continued popularity of the PlayStation 4.
Income before taxes for the year ending March 31 came in at 304.5 billion yen ($2.81 billion), a big rise from the 39.7 billion yen recorded during the same period last year. Operating profit rose 329.2 percent to 294.2 billion yen, its largest figure since fiscal 2007, according to Reuters.
Losses in Sony's mobile communications business, which has been a cause for concern, narrowed to 61.4 billion yen from 217.6 billion in fiscal 2015. The Japanese firm has been on a drive to increase profitability with its Xperia smartphone range rather than chase market share, a move that appears to be paying off.
"If it means that we're selling less number of phones going out the door. We're fine with that so long as we have a profitable business, and we're really on our way to being profitable in that regard," Kazuo Hira, the chief executive of Sony, told CNBC in February.
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I am not sure why SNE is flying this morning but maybe on the upcoming PlayStation 4.5
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I can't recall seeing so many gaps on a chart in a long time as this one for SNE. It is overbought but could head higher from accumulation. With VR, Playstation 4.5 is already on the hit parade.
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For years, this company was an exciting pioneer. Sony's 1957 TR-63 Radio was the device credited with launching the entirely new industry of consumer micro-electronics. The 1970s and '80s saw the advent of Walkman products. Then came the Trinitron TV.
However, that kind of game-changing success has lately eluded Sony. To be sure, Sony stock has risen 19% this year. It closed Thursday trading at $29.34 a share, exactly as it had started. The company's sensor business has slowed, partly due to tapering demand for smartphones. In recent years, the company's has relied heavily on PlayStation console sales.
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