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Thursday, 09 January 2014 11:59

Sony turns around

Written by Nick Farrell


 
Share price doubles

After much mocking, Sony appears to being taken seriously again. Shares in Sony Corp rose as much as 5.2 percent to a one-month high on Thursday after media reports said the consumer electronics company aimed to double its smartphone sales volume in two years.

This might strike some people as strange. After all most analysts are expecting the smartphone market to crash and burn over the next two years, so a player expanding its operations is not likely to do well. However the news that Sony was the most traded stock on the main board.

Sony Chief Executive Officer Kazuo Hirai said the company aimed to ship more than 80 million handsets in the financial year ending in March 2016, ramping up sales in the US and Chinese markets. Well we would not bet the farm on it, but if he says so.

Nick Farrell

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