Sony Misses Estimates as Samsung Challenge Stalls
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Sony Corp. forecast annual profit that missed analysts’ estimates as Chief Executive Officer Kazuo Hirai rolls out new Xperia smartphones and Bravia televisions to recapture market share lost to Samsung Electronics Co.
Net income may rise 16 percent to 50 billion yen ($507 million) in the year started April 1, the Tokyo-based company said in a statement. That compares with the 66.4 billion-yen average of 18 analyst estimates compiled by Bloomberg.