Latest Gaming News

Sony To Boost Video Games Investment By 50%

25th October 2003, 9:38am
On the back of poor second quarter operating profits, Sony has revealed plans to invest some 30 billion yen into its R&D team in the games division.

Sony revealed a few days ago that Operating profits from games plunged 91% to 2.2 billion yen while sales were down 36% to 161 billion yen raising fears that consumer enthusiasm for the PlayStation 2 has peaked. Sony also posted a 25% drop in net profits to 32.9 billion yen.

Due to fears, Sony has announced they plan to invest a further 30 billion yen into their games division boosting up the total to some 60 billion yen. Sony said most of the money will go towards their advanced semiconductor known as "cell", which is being developed with Toshiba and IBM.

"The game business is in the throes of global competition that involves both the IT and entertainment industries," said Takao Yuhara, Sony senior vice-president.
Share |
by Damien