Alamak! Does this mean no PS6 next year?
Shares of Sony Group Corp ‘seemed to slide down from the slide’ when it posted a decline of 8.8%, after gaining 4 consecutive days earlier, as concerns about its gaming business resurfaced following issues of component shortages and high competition from other companies.
In the past month, Sony has seen its shares drop by 13% after its close rival, Microsoft announced the purchase of game developer company, Activision Blizzard which is famous for its Call of Duty games.
Still, Sony managed to recover some of its profits when it signed a deal with game developer Bungie Inc.
The Japanese giant conglomerate reported 3rd quarter profits with strong support from the box-office film Spider-Man: No Way Home while its gaming unit had to work hard to post quarterly profits due to lack of costs.
As everyone knows, Sony is struggling to produce PlayStation 5 (PS5) units to meet demand due to component shortages and logistical problems.
Sony only managed to sell 3.9 million units in the 3rd quarter compared to the same period last year.
The problem has forced a downgrade in Sony’s annual PS5 sales target to 11.5 million units from 14.8 million units.
As a result, there has been speculation that Sony may have to follow in the footsteps of Microsoft offering games on its Game Pass subscription service.
Meanwhile, Sony has given an aggressive signal about its plans to maintain its position as a gaming leader by doubling first party game revenue and launching more than 10 online -based live service games that can be updated to include new features.
