Morning Beat: Sony Corp (ADR) (SNE), Barclays PLC (ADR) (BCS) and Apple Inc. (AAPL)
Sony Corp (ADR) (NYSE:SNE) is spinning off its PlayStation into a separate standalone company dubbed Sony Interactive Entertainment LLC. The spin-off company combines all PlayStation hardware and software operations and services like Play Station Vue and PlayStation Store.
Andrew House is to head the new company acting as president and its global CEO. Shuhei Yoshida, who currently heads World Wide Studios, will retain his title but will report directly to Shawn Layden. The company with $2 million in working capital will have its headquarters in San Mateo California.
Even with the spinoff of the unit, no major changes are expected on how PlayStation works as well as its connected services
Processing power will define the rumored 4-inch iPhone that Apple Inc. (NASDAQ:AAPL) is reportedly working on, ahead of a possible launch in March. According to 9to5Mac the purported iPhone 5se will come with the iPhone maker’s powerful A9 processor and M9 coprocessor. It is the same chip powering iPhone 6S.
If true, then the iPhone 5se should be more powerful than iPhone 6 that comes with an A8 processor. Acting as a replacement for iPhone 5S, the rumored iPhone will come in 16GB and 64GB memory capacity. Other specs include an 8 Megapixel camera featuring a metal design similar to that one on iPhone 6 and iPhone 6S.
Sony Corp (ADR) (NYSE:SNE) is acquiring Altair Semiconductor for $212 million as it seeks to bolster its efforts on the development of chips for the internet of things. The Israeli-based company is well known for developing chips that connect devices to LTE.
LTE is not only used in smartphones but also used to connect objects such as home appliances and sensors in the Internet of things. The purchase should help Sony compete better against other companies developing standards for the internet of things.
Sony Corp (ADR) (NYSE:SNE) plans to merge Altair business with its other technology business including Global Navigation Satellite System and image sensors. The long term goal is to develop a new breed of cellular connected and sensing component devices.
Barclays PLC (ADR) (NYSE:BCS) has confirmed that in the next 60-75 days it will start offering support for Apple Inc.(NASDAQ:AAPL)’s cashless payment system Apple Pay in the UK. For some time, the bank has flip-flopped over the possibility of linking its cards with the fast emerging NFC payment platform.
The decision to support the service comes on receiving hundreds of irate customer tweets echoing their anger on its failure to support the service. There are reports that the bank was working on its own contactless payment service, behind the scene, thus the delays.
Should the integration come to fruition, then Barclays PLC (ADR) (NYSE:BCS) will join 15 other banks in the UK already supporting the service.
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