Sony bumps up veteran CFO to president before elected decline in earnings Sony Sony has appointed a veteran executive as its president to lead the Japanese electronics and entertainment conglomerate through times of change. Hiroki Totoki, Sony’s chief financial officer, will become president and chief operating officer, Sony said in a statement. Kenichiro Yoshida remains chairman and chief executive, signalling continuity at the Tokyo-based maker of PlayStation consoles, [...]
UK class-action lawsuits against Google, Apple and Sony see value of competition claims surge to £26bn UK COURTS The value of UK competition class-actions surged last year, according to new data published today, following the filing of a series of multi-billion-pound claims against some of the world’s biggest tech companies, including Apple, Google and Sony. The value of class-action lawsuits filed in the UK over claims around anti-competitive behaviour surged six-fold over the [...]
Harry Styles saves the day for Sony’s music arm music madness Sony was buoyed by its music division this quarter, with the group’s profitability countervailing the Japanese giant’s reduced gaming success. Music revenues climbed from JPY 217 billion (£1.2bn) to JPY 359 billion (£2.1bn), with higher sales across recorded music and publishing thanks to new music from big hitters like Harry Styles. Although gaming revenue also [...]
Game on: Why Big Tech is betting big on gaming September 14, 2022 When Bill Gates said “content is king” back in 1996, he opened a can of worms that has become increasingly hard to contain. This content obsession has evolved in different ways in the last two decades, with the latest bet from Big Tech being on gaming. While the evolution of video games has been progressing [...]
Sony snaps up Savage Game Studios in console pivot August 29, 2022 Sony has snapped up Savage Game Studios this morning as the company continues to pivot away from consoles.
Sony ups Playstation prices amid inflation woes August 25, 2022 Sony has upped the prices for its PlayStation 5 games console, citing the the global economic environment.
Sony faces £5bn lawsuit over claims it ‘ripped off’ millions through PlayStation store August 22, 2022 Sony is set to face a £5bn class-action lawsuit, brought forward on behalf of 8.9m people, over claims it breached competition law by overcharging for digital PlayStation games and in-game purchases. The Japanese video game console maker is being sued by consumer rights campaigner Alex Neill, on behalf of millions of gamers, over its practice [...]
Not all fun and games for Sony and Nintendo amid supply woes May 10, 2022 Gaming giants Sony and Nintendo warned of ongoing supply chain issues this afternoon as the lockdown headache continues for tech firms. Whilst Playstation maker Sony said it plans to sell 18 million PS5 consoles this year, the Japanese firm warned that the situation in China may impact this figure. However, earnings for its gaming and [...]
Competition watchdog gives Sony and Nintendo subscriptions the green light April 13, 2022 The competition watchdog has finally given Sony and Nintendo's gaming subscription the green light following the gaming giants' changes.
Fortnite maker Epic hits £24.2bn valuation as Sony continues gaming push April 11, 2022 Fortnite maker Epic Games raised a further $2bn (£1.5bn) this afternoon, valuing it at a whopping $31.5bn (£24.2bn). The round included investment from existing investor Sony Group as well as KIRKBI, the family-owned holding and investment company behind The LEGO Group, with each party investing $1bn respectively. Sony’s ongoing push with Epic Games may be [...]