Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

Beleaguered Sony counting on new game machine

Feb 22 2014, 12:01 IST
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Sony PlayStation stands out as one that hasn't faded or succumbed to a nimbler competitor. Reuters Sony PlayStation stands out as one that hasn't faded or succumbed to a nimbler competitor. Reuters
SummaryOut of Sony's long list of well-known brands like Walkman, Vaio, Bravia, Cyber-shot, only PlayStation has managed to hold its edge.

PlayStation stands out among the long list of famous Sony brands as one that hasn't faded or succumbed to a nimbler competitor. Months after hitting global markets, the latest version of the video-game console went on sale Saturday in Tokyo, a big shift from times when Sony was ascendant enough to launch flagship products in Japan first.

The PlayStation 4's much awaited arrival in Sony Corp.'s home market is the first time Japan did not get a major Sony game machine ahead of other markets. With much riding on the PS4's success, the commercial advantages of targeting overseas markets outweighed the sentimental pull of a home town launch.

The PS4, Sony's first video-game console in seven years, went on sale in the U.S. and Europe in November. A small but enthusiastic crowd of about a dozen fans, some in game-inspired costumes, attended a midnight countdown ceremony in Tokyo.

More than 80,000 people watched a live Web broadcast of the event, at the Sony Building in Tokyo's Ginza district. Most Japanese consumers will be picking up their machines at stores around the nation.

Sony officials say more time was needed to prepare game software attractive for Japanese, but analysts say Japan wasn't a priority for Sony's game division.

''I have made you all wait for so long,'' Hiroshi Kawano, Sony's chief of its game business in Japan and Asia, said before handing the console to the first customer in Japan.

The PS4 has proved a hit so far, selling 4.2 million units worldwide last year, outpacing rival Microsoft Corp.'s Xbox One at 3 million.

But analysts say Sony, headed to a 110 billion yen ($1.08 billion) loss for the fiscal year ending in March, needs more than a successful game console to reverse its dimming fortunes.

The company rose from humble beginnings in 1946, with just 20 employees, to become one of the first Japanese companies to go global as the country emerged from the debris of its defeat in World War II to become a manufacturing powerhouse.

But in recent years, out of Sony's long list of well-known brands - Walkman, Vaio, Bravia, Cyber-shot, Handycam, Aibo - only PlayStation has managed to hold its edge. Its share price is today just one third of its 2008 value.

The Walkman portable audio player lost out to the iPod from Apple Inc. over the last decade, as it fell behind in adopting the MP3 format.

Sony's Bravia

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