By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Tokyo — Sony Corporation’s board has rejected the suggestion by investor Third Point to spin off its entertainment businesses in a unanimous vote of its board.
In a letter, Sony’s board and management said they “strongly believe that continuing to own 100 percent of the company’s entertainment businesses is fundamental to Sony’s success, and that a rights or public offering is not consistent with the company’s strategy for achieving sustained growth in profitability and shareholder value.”
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.
Los Angeles — The Digital Entertainment Group (DEG) reports that overall spending on home entertainment was up 2 percent in the first half of 2013.
In DEG’s “Mid-Year 2013 Home Entertainment Report,” compiled by its members’ tracking sources and retail input, Blu-ray Disc sales were up 15 percent year on year while electronic sell-through was up 50 percent
Seoul, South Korea — LG Electronics revealed a new global corporate brand identity strategy tied to the theme, “It’s All Possible.”
LG said the global communications and branding strategy will play up the many changes afoot in technology and consumer behavior while the new theme conveys “LG’s consumer focused goals to inspire, empower and make consumers smile.”
Osaka, Japan — Sharp Electronics reported higher sales and posted an operating profit and reduced net loss in its fiscal first quarter, ended June 30.
Sales were up 32.6 percent to 607.9 billion yen. Operating income was 3 billion yen, compared with the prior year’s operating loss of 94.1 billion yen, and the net loss was 17.9 billion yen, down from the 138.4 billion yen loss in the prior year.
Tokyo — Sony returned to profitability in its fiscal first quarter, thanks in part to posting a profit in its TV business and favorable foreign exchange rates.
In its quarter, ended June 30, Sony net income was 3.5 billion yen ($35 million) compared with the prior year’s loss of 24.6 billion yen. Operating income increased 30.1 billion yen from the prior year’s first quarter to 36.4 billion yen ($367 million.)
Sales and operating revenue rose 13 percent to 1,712.7 billion yen ($17.3 billion) year on year, Sony reported.
Osaka, Japan — Panasonic reported higher operating profit and net income, but CE sales were down as the company emphasized profitability in its fiscal first quarter, ended June 30.
Operating profit increased to 64.2 billion yen, from 38.6 billion yen a year ago, due mainly to fixed cost reduction, including a decrease in bonuses and positive impact of yen depreciation.
Net income rose to 107.7 billion yen, from 12.8 billion yen the prior year, mainly on a one-time gain of 79.8 billion yen from pension plan changes incurred as other income.
Sunnyvale, Calif. – In an attempt to open its products to a broader audience, high-end movie server developer Kaleidescape unveiled Tuesday the Cinema One, a compact movie server and player combination system.
Cinema One, which carries a $3,995 price, is targeted at midrange high-performance home entertainment equipment enthusiasts, and rings in at almost $10,000 less than the starting price on the previous server.
Plainview, N.Y. — Elmo USA introduced Wednesday its first portable LED video projector: the Boxi MP-350.
The compact, 300-lumen unit is targeted at mobile users who need HD (WXGA) resolution for presentations or entertainment use, the company said. The Elmo Boxi MP-350 (which is available now through Wynit Distribution at a $659 suggested retail) has a footprint measuring less than 6 inches square and weighs 1.1 pounds.
Seattle — MediaMall Technologies said Tuesday that its PlayOn software will now make Aereo local TV channels accessible to Aereo TV users on select gaming consoles, set-top boxes and Android devices.
Using PlayOn software, Aereo users will be able to stream Aereo content on almost any DLNA-compatible device, including the PlayStation3, Xbox 360, Google TV, Wii, Wii U and others, beginning July 10.
PlayOn will also bring Aereo to Android mobile devices, the company said.