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250 shares sold and700 trade
The new version of the PSP, the PSP 3000, will have a built in microphone allowing it to be used as a phone. The new PSP is expected to be released in US and Europe in mid-october.
Sony Corporation has agreed to purchase Bertelsmann's $900 million share in the music entertainment company Sony BMG. This comes in a effort by Bertelsmann's executive management to trim losing segments and focus the company on growth.
Purchasing Bertelsmann's $900 million share in Sony BMG, Sony ended the two corporation's losing music entertainment joint venture.
Sony Corproation has agreed to purchase a $900 million share of Bertelsmann's investment in Sony BMG. Bertelsmann executives are in the process of trimming slow segments in an effort to focus on growth.
In an effort to capitalize on the low cost distribution/advertising available on the internet, Sony will release its new show "Angel of Death" first on the internet and then directly to DVD. Sony plans on showing short weekly clips on the internet and then release a DVD that ties it all together and fills in gaps in the story.
Sony signed a deal with Comcast, Time Warner, Cox Communications, Charter, Cablevision, and Bright House to eliminate the need for set top boxes with Sony TV's. The agreement is to standardize their technology to allow the TV's to receive "two way" cable services without a set top box. This will allow consumers to plug their cable directly into the TV and get both decoding service and be able to send to get Pay per view and other options.
Sony has found an archive under its headquarters that is full of old and valuable photographs. The pictures are great like Miles Davis, Muhammad Ali, Bob Dylan, and Johnny Cash. Sony is forming a business called Icon Collectibles to sell these photos which it hopes could at some point become a seven figure business for them.
Sony earnings were stronger than expected largely thanks to its game segment being able to eliminate $11.5 billion yen off its losses. However, Sony's high dependence on foreign business caused Sony's financial division to post an operating loss of $30 billion yen. Sony had a net income of $278 million.
Sony filed financial reports for the 2006 fiscal year. Although operating profits decreased by 68 percent, this was mostly due to the large start-up costs of PlayStation 3 game consoles, and earnings are expected to rebound in 2007. Revenue increased by 10.5 percent, ahead of projections.
Following a significant price drop from $600-$500 on the 60GB model and the introduction of the $400 40gb model, Sony (SNE) saw sales of its Playstation 3 gaming system more than triple, up 245%, during the November 18-24 beginning of the holiday shopping season. However, the Playstation 3 still has a long way to go as Sony is actually taking a loss due to component costs on every system that it sells, while the market leading Wii by Nintendo has made a profit on every unit since its release last year.
Monday an investment fund owned by the government of Dubai announced that it had purchased a "substantial" stake in the Japanese electronics giant. Details were not disclosed.
Sony released its second quarter 2007 earnings results on October 25. The company reported large increases in revenues over the same period last year. These increases were credited mainly to increased electronic sales. Shares rose 8.7% in the days following the announcement. Sony's game unit is still struggling however, with losses worsening.
Sony announced plans to sell televisions incorporating new organic electroluminescent (OEL) technology. OEL screens are thinner and consume less power than traditional LCD screens, because they do not require a backlight. Sony will be the first company to offer OEL televisions and plans to begin selling an 11-inch OEL model by the end of 2007.
Sony settled a patent-infringement lawsuit with the technology company Immersion Inc. Since 2002, Immersion has claimed that the vibration technology in Sony's PlayStation controllers used its technology without permission. Sony finally settled the lawsuit for $97.2 million in damages and $22.5 million in royalties. The company's stock price fell by $1.83, or 3.5%.
