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Morning Call: Chinese shares fall further
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Morning Call: USD, SEK in focus
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2:47
The week ahead in macro
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Video / 15 May 2014 at 13:23 GMT

Sony's troubles, the Carphone buzz and a monumental game

Lea Jakobiak

Sony seems to be going through a troubled period; its shares plunged by 6.1 percent in Tokyo after its CEO Kazuo Hirai stepped out to say he’s expecting an annual loss - the sixth annual loss in seven years. 

Hirai, who cut last year’s net-income forecast three times, said the net loss will probably be 50 billion yen for the year ending March.

But Tech Expert Stuart Miles says investors should by no means panic and that in fact, things are "not that bad". Speaking to Saxo TV's Lea Jakobiak he explains the drop is due to "a lot of restructuring"; Sony has sold its PC business and even scrapped bonuses for departing staff. But Stuart explains, that its mobile division and the Sony PlayStation are making money, which means that once restructuring is under way, Sony "should be in a good position turn things around from 2015,” Stuart reckons.

Dixons Retail, the owner of Currys and PC World, and mobile phone retailer Carphone Warehouse have announced they are to merge in a deal worth USD 3.8 billion. The new firm will be known as Dixons Carphone, with ownership to be split equally between the two firms' existing shareholders. 

Stuart thinks this move is a "survival tactic" between the two companies, but adds the"UK retail likes the ability to click and collect" so he thinks this deal may just work.

Dixons operates more than 500 Currys and PC World stores in the UK and Ireland. Carphone Warehouse operates more than 2,000 stores across Europe.

Finally, London-based design agency, UsTwo, has developed an android game called ‘Monument Valley’ - which can be downloaded on tablets and smartphones for USD 3.99. Stuart says the company has already made a profit of GBP 1.2m and thinks that although you can’t trade UsTwo, investors should have these sort of companies on their radar as they could grow fast.

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