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Sony pulls out of nanochip R&D

In additional cost-reducing maneuvers, the troubled Japanese electronics giant has announced that they're no longer going to develop the manufacturing technology for producing microchips with circuitry of 32 nanometers or less. These responsibilities will be handled by partners Toshiba and IBM. This announcement comes week after the sale of both Cell and RSX graphics chip facilities to Toshiba.

Shares of Sony were up 0.5 percent after the announcement.