Sony (SNE +6.4%) is closing with big gains thanks to a rally in Japanese equities and positive...

|About: Sony Corporation (SNE)|By:, SA News Editor

Sony (SNE +6.4%) is closing with big gains thanks to a rally in Japanese equities and positive comments from CEO Kazuo Hirai. Hirai, who has announced huge job cuts and a giant debt offering since taking over as CEO last year, promises Sony's phone business - now focused on high-end Android gear - will be a profit driver. The company forecasts its smartphone sales will rise 50% in FY13 (ends March 31) to 51M, but it faces stiff competition from Samsung and a slew of Chinese vendors who are moving upmarket.