Sony Corp (ADR) (NYSE:SNE) apparently is working on some new batteries that, if successful, would enable your cell phones, tablets, and other mobile devices to operate up to 40% longer. While this may not seem like a lot, many people find themselves having to recharge their phones in the late afternoons, just so that they can make it through the day. A 40% increase could go a long way.
It has been 24 years since Sony (NYSE:SNE) released the first commercial lithium-ion battery, so it comes as no surprise that they might soon be the first to surplant it with new magnesium-sulfur batteries which are safer, cheaper, and longer lasting than the lithium-based alternative.
Don’t hold your breath though, as these batteries probably won’t make it to market until 2020.
Sony (NYSE:SNE) stock decreased 0.44% or $0.11 during the last trading session, hitting $25.13. Approximately shares traded hands. SNE shares have declined 23.24% since May 15, 2015 and are currently downtrending. It has underperformed the S&P500 by 20.98%.
From a total of 2 analysts covering Sony Corp (NYSE:SNE) stock, 2 rate it a “Buy”, 0 a “Sell”, and 0 a “Hold”. This means that 100% of the ratings are positive. Sony Corp was the topic of 3 analyst reports since August 16, 2015 according to the firm StockzIntelligence Inc. Nomura maintained shares on September 4 with a “Buy” rating. JP Morgan maintained SNE stock in a recent report from August 16 with a “Overweight” rating.
Sony Corporation is engaged in the development, design, manufacture, and sale of various kinds of electronic equipment, instruments, and devices for consumer, professional and industrial markets, as well as game consoles and software. The company has a market cap of $31.20 billion. The Company’s divisions include Mobile Communications, Game & Network Services, Imaging Products & Solutions, Home Entertainment & Sound, Devices, Pictures, Music, Financial Services and All Other. It has 36.92 P/E ratio. The Company’s manufacturing facilities are located in Asia, including Japan.