Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Sony Corp share price down, announces new product lineup

Sony Corp, maker of the PlayStation, is to officially present the next lineup in its mobile devices division, set to deepen cross platform integration, as the new handhelds are designed to connect to the PlayStation 4.

The company announced on its website that at the IFA consumer electronics show in Berlin, Germany, scheduled to start from Friday, September 5, it is unveiling an array of new products, including two Xperia Z3 smartphone models, two Z3 tablets, and a “smartwear” line of wearable devices.

“Each of our latest Sony products seeks to do more than just deliver new functionality,” Kazuo Hirai, President and CEO, Sony Corporation said. “We seek not only to meet your needs, but to elevate your experience to new heights.”

The company steered attention towards the integration possibility between its new Xperia Z3 and the companys best-selling gaming platform, the PlayStation 4.

“Allowing its latest smartphone and tablet remote access to its PS4 and games played on its PlayStation network is another huge step in the right direction,” Amir Anvarzadeh, a manager of Japanese equity sales at BGC Partners Inc. in Singapore, said for Bloomberg. “The Japanese consumer electronics giant is moving away from the past strategic mistakes of focusing on market share gains.”

Sonys move comes in sync with several other major rivals in the smartphone industry, including Samsung and Microsoft, as the market prepares for the upcoming Apple unveiling of the new iPhone 6, set to spur a publicity storm.

Sony Corp closed at ¥2 056 (~$19.58) today, down 0.82% for the day and valuing the company at ¥2.17tn (~$20.67bn). According to a Financial Times survey, as of September 3rd 18 analysts offering 12-month price targets for Sony Corp have a median target of ¥2 050, with a high estimate of ¥3 000 and a low estimate of ¥1 360.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News