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Sony’s stock falls to lowest level since 1984

At the time of writing this post, Sony’s press conference at E3 is only hours away and Sony’s stock price has fallen below $12.79 or 1,000 Yen for the first time since 1984, reports IGN. Sony h

At the time of writing this post, Sony’s press conference at E3 is only hours away and Sony’s stock price has fallen below $12.79 or 1,000 Yen for the first time since 1984, reports IGN. Also Read - PlayStation 5 restock: Do Indians have a reason to smile?

Sony has been going through a very bad phase with it reporting a gargantuan quarterly loss, but if there is one Sony brand which is considered to be healthy then it has to be its iconic PlayStation brand, which began its humble roots under current CEO Kaz Hirai. However, things have not been all rosy for even the PlayStation brand as last year a hacker group tore into its coveted PlayStation Network and then the company failed to gather strong sales from its critically acclaimed handheld, the PlayStation Vita. Also Read - Netflix introduces AV1 streaming for smart TVs and PS4 Pro

Sony has even been forced to shutdown two in-house game development houses due to lackluster sales of the Vita and the overall ill health of the company. The stakes have never been greater for Sony and it desperately needs a winner at E3 2012. Having said that, while Sony had a trump card in the Vita at E3 2011, for 2012, we do not expect anything but a number of PlayStation Exclusive games like God of War: Ascension, more online content for the PlayStation 3 and some more Vita games. Also Read - Sony to cut production for PS5 even more due to component and logistics constraints: Report

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  • Published Date: June 4, 2012 1:46 PM IST



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