Sony shares drop 3 pct after turnaround plan
TOKYO (Reuters) - Shares of Sony Corp (6758.T) dropped more than 3 percent on Friday after new CEO Kazuo Hirai mapped out a revival plan to return the consumer electronics maker to profit and compete better with rivals Apple (AAPL.O) and Samsung Electronics .
Some analysts voiced concern that the revival plan, outlined on Thursday, didn't go far enough, as Sony struggles to emerge from four years of losses and regain the innovative flair of its 1980s glory days.
Sony shares were last down 3 percent at 1,482 yen after dropping to 1,474, their lowest since early February.
(Reporting by Chris Gallagher; Editing by Paul Tait)
- Tweet this
- Share this
- Digg this
Jack Ma, executive chairman of Alibaba Group Holding Ltd , has become China's richest man with a fortune estimated at $25 billion, underscoring the ascension of tech tycoons over real estate peers in the world's second biggest economy. Full Article