Sony Corp's logo is seen at its news conference in Tokyo, Japan November 1, 2017. In afternoon trade, it was up 9.8 percent at 4,846 yen, giving it a market capitalization of around $54 billion.The new forecast is 20 percent above its current profit record, set two decades ago when strong sales of consumer electronics dovetailed with the popularity of its first PlayStation games console and its “Men in Black” box-office hit.To develop new profit drivers, the firm has also boosted investment in artificial intelligence and is expanding its consumer products portfolio.It unveiled its Xperia Hello! voice-activated communication robot this month and on Wednesday said it was reviving its robotic dog AIBO that went on sale in 1999. It also aims to lead the budding virtual-reality market by drawing on the content portion of its business such as music and film.Combined with resurgent demand for consumer audio products sparked by the rise of streaming services from Spotify to Apple Inc’s Apple Music, the focus on cutting-edge technology augurs well for future profits, said Macquarie analyst Damian Thong.“They should also push into 3D sensors which will be useful for augmented reality and the applications that surround that.”“Great products, plus great brand, delivering great profitability,” he added. “It’s not rocket science perhaps, but for a long time, Sony seemed to have forgotten this magic formula.

Source: Egypt Today November 01, 2017 05:15 UTC