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Sony Corp

BUSINESS
July 28, 2006 | From Reuters
Sony Corp. swung to a better-than-expected operating profit in its fiscal first quarter, propelled by robust sales of LCD televisions and digital cameras, a sign that its recovery is on track. A weaker yen also helped the electronics and entertainment conglomerate offset valuation losses at its life insurance unit and start-up costs for its PlayStation 3 game console. The Tokyo-based company's U.S.-traded shares rose 6% after the earnings were released.
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BUSINESS
February 20, 2006 | From Times Wire Services
Shares of Sony Corp., the world's second-biggest consumer electronics maker, fell early today in Japan after a report by Merrill Lynch & Co. said the release of the PlayStation 3 video game console might be delayed until as late as next year. The shares fell as much as 4.4% and ended the morning session down 2.2% at 5,380 yen ($45.57) in Tokyo. Sony, which had planned to start selling the console in Japan in the second quarter this year, may introduce the player there in the fall and in the U.S.
BUSINESS
January 31, 2007 | From the Associated Press
Just when Sony Corp. appears to have turned around its electronics business, another part of its sprawling empire -- video games -- is dragging down profit. The Japanese electronics and entertainment company Tuesday blamed the launching costs of its PlayStation 3 game console for much of the 5% drop in profit for the last three months of 2006 to 159.9 billion yen ($1.3 billion). The PS3 launched in the United States and Japan in November.
BUSINESS
June 21, 2003 | From Bloomberg News
Sony Corp.'s Nobuyuki Idei, the chief executive who has presided over a 29% decline in his company's stock this year, asked for patience from shareholders demanding improvements at the firm's electronics unit. Meeting individual shareholders Friday for the first time since Sony reported a fiscal fourth-quarter net loss of $938 million in April, Idei defended his performance.
BUSINESS
September 3, 2001 | From Bloomberg News
Sony Corp. said today it expects to weather the global economic slowdown without firing tens of thousands of workers, as its Japanese rivals must, because it is already cutting costs and has closed many of its factories. "We took those measures years ago," said Kunitake Ando, president of the second-largest consumer electronics maker. "We don't need to rush a restructuring like others are doing in such a hurry."
NEWS
November 17, 1989 | NINA J. EASTON, TIMES STAFF WRITER
Sony Corp. has agreed to hand over assets worth several hundred million dollars to Warner Bros. so that it can hire two prominent Hollywood producers to run its newly acquired Columbia Pictures Entertainment studio.
BUSINESS
March 31, 2000 | From Times staff and wire reports
Sony Corp., the world's second-largest maker of consumer electronics, is unifying its U.S. entertainment assets under a new banner to make it easier to form alliances, make acquisitions and broaden the distribution of its content on the Internet. Expanding on existing e-commerce initiatives in Japan, the company also is forming an online bank with J.P. Morgan & Co. and Sakura Bank Ltd. that will target individual depositors and sell loans and other retail banking services to the Japanese public.
BUSINESS
January 27, 2006 | Dawn C. Chmielewski, Times Staff Writer
Sony Corp.'s attempts to turn around its electronics business paid big dividends during the holiday season, putting the company solidly in the black with record results in a quarter in which it had warned of a loss. Strong sales of Sony's new Bravia liquid crystal display TVs and its popular PlayStation Portable hand-held game system fueled an 18% rise in fiscal third-quarter profit, to $1.4 billion. Revenue also hit a record, climbing 10% to $20.1 billion.
BUSINESS
May 14, 2002 | ALEX PHAM, TIMES STAFF WRITER
Sony Corp. will slash the price of its popular PlayStation 2 video game console by a third today, potentially sparking a price war with rivals Microsoft Corp. and Nintendo Co. as the three companies jostle for a share of the $27-billion global games market. At the same time, Nintendo said it will break into the online games market by selling a modem for its GameCube console this fall.
BUSINESS
February 23, 1995 | DAVID HOLLEY, TIMES STAFF WRITER
The consumer electronics industry moved a step closer Wednesday to an all-out war over a new digital home video format as Sony Corp. declared that it will push forward with a videodisc technology it proposed in December with Philips Electronics. A rival digital videodisc technology developed by Toshiba Corp. and Time Warner Inc. and unveiled last month has gained the backing of a number of key players--including Matsushita Electric Industrial Co., Pioneer Electronic Corp. and Hitachi Ltd.
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