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Sony suffers TV relapse as Japan peers change channel

01
Nov
2013

By Sophie Knight TOKYO (Reuters) – Sony Corp CEO Kazuo Hirais determination to stick to the consumer electronics that made the companys fame will be put to the test in the months ahead as domestic rivals step up a shift to more profitable industrial technology. Meanwhile Panasonic Corp raised its earnings forecast on strong sales of products like batteries to industry clients, and Sharp Corp bounced to its first quarterly net profit in two years, helped by sales of solar panels. Since Chief Executive Officer Kazuo Hirai took the helm last year, Sony has promised a rebound in hardware with a three-pronged strategy focused on mobile devices, imaging technology and gaming. But the below-expectations performance in the second quarter stirred doubts about how Sony can anchor a turnaround by reviving fervor among consumers who now covet goods like Apples iPad and Samsungs Galaxy smartphone.

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