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Yoshida, who took the helm a little over a year ago, addressed shareholders at the company’s investor day on Tuesday at Sony’s headquarters in Tokyo. The beefier device is designed to help PS4 users switch easily, Yoshida said.The new device will come with remote play, which lets users play console games from their phones, tablets and PCs.
Perhaps no one was more shocked than employees of Sony’s PlayStation division, who have spent almost two decades fighting the U.S. software giant in the $38 billion video game console market. Last week, the companies announced a strategic partnership to co-develop game streaming technology and host some of PlayStation’s online services on the Redmond-based company’s Azure cloud platform. It comes after PlayStation spent seven years developing its own cloud gaming offering, with limited success.
Microsoft Corp and Sony Corp on Thursday said they struck a strategic partnership in which Sony would use Microsoft's cloud for streaming games and media and the two would work together to develop image sensors. "For many years, Microsoft has been a key business partner for us, though of course the two companies have also been competing in some areas," Sony Chief Executive Kenichiro Yoshida said in a statement.
The Tokyo-based company soared as much as 8.8% on Friday after announcing it will purchase as much as 4.8% of its outstanding shares, spending up to 200 billion yen ($1.8 billion). Yoshida’s move underscores a commitment to supporting the stock price as Sony became the latest Japanese company to announce a buyback of at least $1 billion. Escalating tensions between the U.S. and China now also cloud the global economic outlook.
While the companies have worked together in some parts of their businesses, Sony’s PlayStation and Microsoft’s Xbox compete fiercely, particularly for the attention of hard-core gamers. At the same time, as both companies face rivals such as Alphabet Inc.’s Google, Apple Inc. and Amazon.com Inc., Sony will want cloud horsepower to run its services.
Microsoft Corp. and Sony Corp. announced on Thursday that they have struck a partnership focused on improving the "customer experience" in artificial intelligence and direct-to-consumer entertainment. The companies have long been adversaries as they make the top two videogame consoles, Microsoft's Xbox and Sony's Playstation. "The two companies will explore joint development of future cloud solutions in Microsoft Azure to support their respective game and content-streaming services," the companies said in a release. Sony and Microsoft will also collaborate on semiconductors and artificial intelligence, they said, using Sony's image sensor and Microsoft's Azure cloud platform to boost the offerings they provide enterprise customers. Microsoft shares are up 2.3% in midday trading, while Sony shares are up 3.8%.
TOKYO (Reuters) - Sony Corp said on Thursday it would buy back shares worth up to 200 billion yen (1.4 billion pounds), or 4.8% of stock, through March 31, 2020, in an effort to boost shareholder returns. ...
Entertainment giant Sony usually likes to make a lot of noise about what it does. The allegations come from insiders working at different branches of Sony UK’s empire who claim “you have to navigate a boys’ club culture”. One (male) senior manager at one of Sony’s biggest offices in the UK told the Standard about a “discriminatory” hiring policy where departmental budgets are cut to pay for maternity leave.
Operating profit will be 810 billion yen ($7.3 billion) in the year ending March 2020, down from last year’s 894 billion yen and below the 843 billion yen average of analyst estimates compiled by Bloomberg. For the three months ended in March, operating income came to 82.7 billion yen, surpassing the 69.1 billion yen average projection. Sony Chief Executive Officer Kenichiro Yoshida is known for providing conservative guidance, a practice he honed helping to lead the Japanese icon through a turnaround over the past five years.
The Tokyo-based company said it had net income of 62 cents per share. The electronics and media company posted revenue of $19.31 billion in the period. For the year, the company reported profit of $8.32 ...
Sony has said that the release date of its next-generation PlayStation console, likely to be called the PS5, will not be for at least 12 months.
Sony Corp warned of a sharper-than-expected drop in its annual profit and scrapped some longer-term targets, in a sign a slowdown in its gaming business as its PlayStation 4 console nears the end of its life was beginning to hurt. The bleak outlook comes after two years of record profits and underlines concerns a turnaround is losing steam at Sony - which bet on entertainment and gaming for steady revenues after battling years of losses with consumer electronics, such as TV sets, that are more susceptible to price competition. Analysts widely expect Sony to launch a next-generation console in 2020 to replace the five-year old PlayStation 4 (PS4), but the business could face tough competition with new video game streaming services from Alphabet Inc's Google and Apple.