Weak yen puts Sony in black

Investor's Business Daily

The consumer electronics giant posted a record $948 mil quarterly profit as sales rose 8% to $17 bil. It got a boost from a weaker Japanese yen, which makes its products more affordable overseas. Other Japanese firms such as automakers Toyota Motor (TM) and Honda Motor (HMC) also benefit from the weaker yen, analysts say. Sony (SNE) is beefing up its TV lineup, including models with leading-edge 4K liquid crystal displays. It may compete with Apple (AAPL), said to be planning an entry in the HDTV market. Sony shares rose 0.8% to 18.08.

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