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Tag: Sony

Sony to outline growth plan for financial arm ahead of spin-off
News

Sony to outline growth plan for financial arm ahead of spin-off

Sony Group Corp. will unveil the growth strategy for its financial services unit on Thursday, as the Japanese conglomerate prepares for a long-anticipated spin-off that has been welcomed by investors and analysts as part of the company’s broader transformation. Once famed for its consumer electronics, Sony has steadily pivoted towards entertainment and technology. Entertainment now […]

Business

Sony shares climb amid volatility after $1.7b buyback news

Sony Group Corp. shares climbed over 3.5% in volatile trading Wednesday after the Japanese conglomerate announced a ¥250 billion ($1.7 billion) share buyback and reported stronger-than-expected operating income for the final quarter of its financial year. For the three months ending March 31, Sony posted an operating income of ¥203.6 billion, surpassing the average analyst […]

Tech

Sony offers PlayStation Plus users five-day extension after outage

Sony has announced that all PlayStation Plus members will automatically receive an additional five days of service as compensation for a global outage that disrupted the PlayStation Network for about 18 hours from late Friday to Saturday evening. During this period, users were unable to sign in, play online games, or access the online store. […]

News Tech

Sony rules out new offer for Paramount Global

Sony’s finance head announced on Wednesday that the Japanese media and technology giant will not reconsider a new offer for film and television production company, Paramount Global. Sony currently has no plans to submit a revised offer for Paramount, said Hiroki Totoki, the company’s chief financial officer, according to CNBC. While responding to a question […]

Sony to lay off 900 PlayStation employees
Tech

Sony to lay off 900 PlayStation employees

Japan’s Sony announced on Tuesday that it will cut approximately 900 jobs at its PlayStation unit and close a studio in London. The job reductions will impact around 8% of the division’s workforce across regions spanning the Americas to Asia. This decision comes shortly after Sony revised the annual sales forecast for its PlayStation 5 […]

Sony to invest $10m in African entertainment startups
News Tech

Sony to invest $10m in African entertainment startups

The Sony Group on Wednesday announced the launch of Sony Innovation Fund: Africa (SIF: AF), a programme that will aid the expansion of entertainment companies in Africa. Tokyo multinational conglomerate Sony Ventures Corporation (SVC) has set aside $10 million for early-stage entrepreneurs in the gaming, music, film, and content distribution industries. This fund targeted at […]

PlayStation unveils $200 remote-play portal
News Tech

PlayStation unveils $200 remote-play portal

PlayStation Portal has unveiled a remote-play device, the PlayStation Portal. Here are the current specifics. First of all, the Portal costs $199.99. Second, as the Portal is only compatible with remote play, a PS5 must be owned. Similar to PlayStation’s DualSense controllers, the Portal’s hardware features adjustable triggers and haptic feedback. It also has an […]

Sony shares drop 6% as Q1 profit plunges
Tech

Sony shares drop 6% as Q1 profit plunges

Shares of Japanese conglomerate, Sony took a hit, declining by 6% in Tokyo trade following a significant drop in first-quarter profit. The entertainment giant reported underwhelming showings in its movie and financial divisions, resulting in a 31% slide in operating profit. Concerns were further fueled by comments from Sony executives about the demand for its […]

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