Moneycontrol
Apr 13, 2012 08:35 AM IST | Source: Reuters

Sony shares drop 3% after turnaround plan

Shares of Sony Corp dropped more than 3% 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 and Samsung Electronics.


Shares of Sony Corp dropped more than 3% 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 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% at 1,482 yen after dropping to 1,474, their lowest since early February.

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