Sony Interactive Entertainment’s stock price has decreased by 8.1% on the Tokyo Stock Exchange today due to weak PlayStation 4 sales. It’s the largest fall since September 2015 according to Bloomberg. The fall in Sony’s stock price is also the result of declining share prices in its smartphone business. It’s surprising to know right after Sony revealed in its financial report that PlayStation 4 lifetime sales have crossed 94.2 million as of December 31, 2018. PlayStation 4 sales are expected to cross 100 million units by the end of 2019 making it one of the best selling consoles in history. 2019 is unlikely to be as good as the previous year for Sony. In 2018, we saw games like God of War, Spider-Man and Red Dead Redemption 2 but in 2019 there are not many big games planned to help prevent the declining PS4 hardware sales. Damian Thong, an analyst at Macquarie Group Ltd said: Strong profits from game software were offset by higher promotional and marketing costs aimed at driving PS4 volumes. We are moving to the sidelines until we can better assess the risks in the Games segment. Another analyst, Amir Anvarzadeh is indicating low PS4 sales as a signal PlayStation 5’s… Read full this story
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