NEW YORK (TheStreet) -- Shares of Sony Corp. (SNE) are up 2.42% to $16.50 in pre-market trade as CEO Kazuo Hirai said the company aims to increase sales of its PlayStation 4 game console to drive growth in its network services such as streamed games and video and recapture the momentum its hardware business has lost against rivals such as Apple (AAPL) and Samsung Electronics (SSNLF), Reuters reports
Kazuo Hirai said that while Sony's flagship electronics division would put profit before sales volume as it tries to pull out of the red, games would be an exception as the company expands its reach in networks, Reuters said.
TheStreet Ratings team rates SONY CORP as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate SONY CORP (SNE) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth and attractive valuation levels. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and poor profit margins."