Shares in Sony soared to a nine-year high on Wednesday after it forecast record earnings that have vindicated its restructuring efforts and raised expectations of sustained momentum in profitability. Laura Frykberg reports.
Man's best friend, new and improved. This is Sony's latest creation. A robotic dog which recognises and plays with its owner. (SOUNDBITE) (Japanese) SONY CORP CEO, KAZUO HIRAI, SAYING: "This is 'Aibo.' 'Aibo' is a partner that will enjoy everyday, while growing with its partner." Sony too, growing its forecast earnings to record levels. Placating shareholders, and sending stocks to a nine year high. Sony has staged a remarkable turnaround Under Chief Executive Kazuo Hirai... Going from unprofitable electronics business... To sought after, for its smartphones with image sensors. And moving towards more AI. (SOUNDBITE) (Japanese) SONY CORP CEO, KAZUO HIRAI, SAYING: "We were confident that a robot that allows the experience of connecting with people and love is exactly what embodies Sony's mission." If beating a record is included in that. Then mission accomplished. Sony's new profit forecast is 20 percent above the most it made - which was two decades ago when The firm released its first Playstation.