Latest Upadates on Sony Corporation (NYSE:SNE)

Los Angelas, CA -- (SBWIRE) -- 02/18/2013 -- Sony Corporation (NYSE:SNE) mainly involves the electronics, game, entertainment and financial operations. The Consumer Products Service (CPS) segment provides liquid crystal display (LCD) televisions, cameras, audio and video equipment, personal computers (PCs), personal navigation systems, game consoles and software. The Professional Device Solution (PDS) segment provides audio, videos and monitors for broadcast and commercial use, image sensors and other semiconductors, optical pickups, batteries, data recording media and systems. The Movie segment produces movie software.

Sony is poised to unveil its latest PlayStation 4 gadget in an event scheduled on Wednesday as the Japanese firm wishes to cash the holiday season. The speculations resulted in a trading rush after company surged 0.77 % to close at $ 14.34 on Friday.

The PlayStation 4 is expected to come with a new streaming game experience that will allow users to play games delivered over the Internet. Company will use current PlayStation 3 titles on the new console to enable the streaming game service. Sony is not the only one focusing at the holiday season since Microsoft Corporation (NASDAQ:MSFT) is also considering to launch its latest Xbox although company declined to comment on the issue.

The release of a new PlayStation has also become vital since game sales have declined rapidly. United States retail sales of new video game products fell 13% year over year in January, marking 14 straight months of decline for the struggling industry. Now nearly half of the industry spending has focused on downloadable content like digital content for smartphones, gaming consoles and Facebook. Analysts are of the view that the Sony PlayStation 4 along with Xbox from Microsoft will surely support the current game sales situation. Microsoft Xbox is expected to come later this year.

Shares of Sony Corporation (NYSE:SNE) are trading at $14.34 and is +8.66% from its 50-day Moving Average price of $13.1976 and +21.26% from its 200-day Moving Average price of $11.8255. The average trading volume is 3563060 shares and its market capitalization is $14.392B.

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