Tech Stocks That Won CES 2014 – Sony (SNE)
Sony (SNE) seemed locked in a downward spiral only a few years ago, repeatedly posting multi-billion dollar quarterly losses. Its TV business became an anchor and the cachet of its other products lost their shine to new consumer electronics giants like Apple (AAPL) and Samsung (SSNLF).
But under new CEO Kazuo Hirai, SNE has appeared to post a turnaround that’s rare for tech stocks. It turned its first profit in five years, its smartphone sales began to pick up and its Playstation 4 game console was a holiday hit.
Sony has some of its swagger back and, at CES 2014, the company was one of the tech stocks on the offensive instead of on the ropes. SNE announced the Playstation Now streaming video game service that brings the massive catalog of older Playstation games to the PS4 — and potentially to other devices as well.
Plus, its 4K TV offerings were well-received and, if they lacked the grandiose appearance of rival Samsung’s massive sets, Sony positioned itself in the sweet spot as a premium but still affordable brand. SNE also showed off a virtual reality headset that it plans to pair with the PS4, impressed with the new Xperia Z1 Compact
smartphone and showed off a new bracelet fitness tracker.
If 2013 was Sony’s turnaround year, CES 2014 showed a company returning to form. People are excited about SNE and that bodes well for 2014.