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Sony shares rise on HD-DVD death

According to this, Sony's shares rose up to 5 percent on the NYSE this morning on the news that Toshiba has pulled out of the next gen movie disc race.

"We believe Blu-ray's victory could drive market share gains for the PS3, as we believe consumers will now be more willing to pay up (versus 360) for the standard Blu-ray player," said William Blair analyst Ralph Shackart.

Sony US shares rose to a session high of $47.07 in early trade on the NYSE before easing to $46.30, up $1.52, or 3.4 percent from the Friday close. On Monday, markets were closed due to the President's Day holiday.

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Patrick Garratt avatar

Patrick Garratt

Founder & Publisher (Former)

Patrick Garratt is a games media legend - and not just by reputation. He was named as such in the UK's 'Games Media Awards', the equivalent of a lifetime achievement award. After garnering experience on countless gaming magazines, he joined Eurogamer and later split from that brand to create VG247, putting the site on the map with fast, 24-hour a day coverage, and assembling the site's earliest editorial teams. He retired from VG247, and the games industry, in 2017.

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