Sony Announces HD TV Recording Device for PS3

Sony unveiled "PlayTV" -- a device designed to watch and record high-definition television on a PlayStation 3 console, with a feature to transfer contents to a PlayStation Portable -- at a gaming conference in Europe Wednesday. PlayTV will be sold throughout Europe, including the U.K., France, Italy, Germany and Spain, from early 2008. Sony reportedly doesn't have plans to launch PlayTV in other regions, but didn't rule out the possibility. A price for the device was not provided. Sales of PS3 and PSP consoles have struggled, especially compared to rival Nintendo, with many analysts blaming a poor game lineup. The Wall Street Journal says PlayTV "may help reinforce the company's strategy to give its videogame console a more central role in home entertainment." Ordinary shares of Sony gained 2.8% to ¥5,440 ($46.63 ADR equiv. at ¥116.67/$1) in a broad market rally in Tokyo. Sony's ADRs rose 0.7% to $46.66 on Wednesday.

Sources: Wall Street Journal
Commentary: Memo To Microsoft and Sony: Game Consoles Are For Playing Games • Sony's New Budget LCD Line to Compete Directly With Less Popular Brands • Sony's Q1 Profit Doubles Despite Widening Game Losses
Stocks/ETFs to watch: SNE. Competitors: NTDOY.PK, MSFT. ETFs: ADRA, ITF, EWJ
Earnings call transcripts: Sony F1Q07

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