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%

The post Sony Shares Sink 8% Amid Declining Gaming Sales – Is a PlayStation 5 Coming in 2020? appeared first on CCN

194 +