Sony shares up by 6%

The investment bank offered positive comments about Sony’s trading prospects and its ability to overcome recent problems - such as the delayed European launch of the PS3 and the costly recall of laptop batteries. Goldman Sachs claims that Sony’s diverse business should stand it in good stead. As a result, Sony’s shares rose by 6.5 per cent to Yen 5,550, their largest daily rise in over a year.

Goldman Sachs also highlighted strong sales over Christmas and a predicted return to profitability of Sony’s TV business. “Christmas sales look strong, centring on LCD tvs and we expect concerns about the battery recall problem and more intense flat-panel tv price competition to be eliminated,” said analysts Kei Nihonyanagi and Riyo Yoshioka.

Thanks to the BBC News

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