Sony Shares Sink 8% Amid Declining Gaming Sales – Is a PlayStation 5 Coming in 2020?
Shares of Sony fell by 8% after the Japanese entertainment and technology giant recorded a decline in sales and profits. Specifically, Sony’s gaming division, which has become increasingly critical to the conglomerate saw operating income from games fell by 14% to $666 million during the October-December holiday quarter, according to Bloomberg.
Sony sold 8.1 million units of the PlayStation 4 during the quarter in question. The PS4 is currently in its sixth year.
For the full year, Sony also reduced its forecast from 8.7 trillion yen to 8.5 trillion yen.
Sony’s Shares fall in Tokyo
Consequently, Sony’s shares fell 8.1% in Asia on Monday. This was the largest decline in Sony’s stock price in over a three-year period.
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