Sony launches “PlayStation” phone

Article Excerpt

SONY CORP. ADRs $36 (New York symbol SNE; Conservative Growth Portfolio, Manufacturing & Industry sector; ADRs outstanding: 1.0 billion; Market cap: $36.0 billion; Price-to-sales ratio: 0.4; Dividend yield: 0.8%; TSINetwork Rating: Average; www.sony.net) aims to profit from rising smartphone demand with the Xperia Play, a new phone that lets users download and play video games from Sony’s PlayStation Network. Users will be able to access over 200,000 programs through the Xperia Play, which uses the popular Google Android operating system. Sony’s strong reputation in video games should help this new device compete with Apple’s iPhone. Sony is a buy. buy…