VENTURE CAPITAL POST

Sony will shut down two-thirds of its retail outlets located across the US, with 11 out of the 31 stores near major markets to remain open, as part of its move to offload unprofitable units and reduce liabilities.

Tokyo, Japan-based electronics giant Sony surpassed its sales target for the PlayStation 4 by selling 5.3 million units worldwide just three months after the latest game console went on sale.

Gartner, a research group, predicted that over 1 billion smartphones and tablet computers installed with the Android operating system of Google will reach customers in 2014.

China's State Council has suspended the ban the government had put in place for 14 years which barred the selling of foreign video game consoles, potentially opening doors for technology firms to enter the Chinese video game market, Reuters reported.

Chicago-based media firm Tribune has entered an agreement to purchase Gracenote, the California-based music data unit of Japanese conglomerate Sony in a deal valued at $170 million, according to a statement by Tribune.

With the midnight release of the Xbox One, the console war has finally began. Sony's Playstation 4 was released last week and now consumers would be able to tell and decide which one system would rule their living rooms.

According to tech giant Sony, the company sold over 1 million PlayStation 4 game consoles, its first game system in seven years, just 24 hours it went on sale last Friday.

Hundreds of PlayStation fans braved the chilly weather in New York to line up and wait for Sony's midnight launch of the long-awaited PlayStation 4 game console.

Friday is the first day of sales for Sony's PlayStation 4 interactive gaming console. GE holds an meeting for investors and analysts focused on its GE Capital business. The Federal Reserve releases its report on U.S. industrial production.

Fans of wearable devices said there is a huge market potential for the smartwatch.

Nintendo announced on Wednesday that the company will give a USD50 discount on its high-priced Wii U consoles and would be offering a new low-priced console.

Sources said DoCoMo would select from the smartphone models of Fujitsu, Sharp and Sony for the company's major winter product lineup.

The Sony Xperia Z Ultra all set for its September launch.

Apple and Samsung's combined shares plunged while new smartphone makers showed growth.

Warner Brothers' last minute bid for Thomas Tull failed to lure the producer; NBCUniversal succeeded.