Sony recalls 1.6 million Bravia TVs

Samsung Electronics Co. posted record earnings as sales of its smartphones surged, widening the company’s global lead as its latest Galaxy handset hits stores to take on Apple Inc. in the U.S. Net income rose 42% from a year earlier to 7.15 trillion won (US$6.4 billion) in the three months ended March, Samsung said in a statement today. Sales of its smartphones jumped 56% to 69.4 million units, almost double the number of iPhones sold by Apple, Strategy Analytics said.

MARKHAM, Ont. — Four Japanese automakers including Toyota Motor Corp, and Nissan Motor Co are recalling 3.4 million vehicles sold around the world because airbags supplied by Takata Corp are at risk of catching fire or injuring passengers. Honda is recalling 1.1 million vehicles, including more than 107,000 in Canada, and Toyota is recalling 1.7 million vehicles, including some 580,000 in North America.

Rick Newman submits:With all the hype surrounding Toyota's (TM) quality problems, you'd think a recall notice in your mailbox is the equivalent of a pink slip or IRS audit. Hardly. Toyota is certainly reeling from recalls of nearly 5 million U.S. cars, including top sellers like the Camry, Corolla, RAV4, and Prius. But recalls are a fact of life in the auto business, usually generating little news or heartache for car owners.

Reuters - Sony Corp lifted its annual outlook and returned to profitability in the first quarter on booming demand for its Bravia flat TVs and PlayStation 3 game consoles.