Another one bites the dust… again and again. It’s the first time in their 50 years of history when they will not pay a dividend.
They say they will concentrate on high end phones, will add a fitness band and their third attempt at a smartwatch, all the while thinking how they can leverage their movie/music content in the new mobile world.
Cody keeps adding to his SNE bet, which I think proves what I already suspected for some time (since he started insisting with Intel), that Cody has no real understanding of the disruption in the mobile/consumer tech market. These guys just made an „impairment charge” of 2bn on their mobile phone division, which means that they acknowledge that their mobile business is worth almost nothing. They drop 7% in one day. And he scales in, remembering how even AAPL went 10-15% down just after he bought it 10 years ago at a split adjusted price of $1. :)