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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Sony Corporation    6758   JP3435000009

SONY CORPORATION

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Sony : PlayStation 5 to launch November priced $499.99 and $399.99

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09/16/2020 | 09:58pm EDT
FILE PHOTO: The logo of Sony PlayStation is displayed at Tokyo Game Show 2019 in Chiba

Sony Corp said its next-generation PlayStation 5 console would launch in November priced at $499.99 and $399.99 for a version without a disk drive, as it squares off against rival Microsoft Corp's Xbox console.

The pricing announcement sets the stage for a year-end showdown between Xbox and PlayStation, as consumers continue to flock to gaming optimised consoles offering exclusive titles.

Microsoft said last week Xbox Series X would go on sale on Nov. 10 priced at $499.99 with the less powerful Xbox Series S priced at $299.99, as Xbox bets that offering consumers choice will outweigh the risks run by launching two distinct devices at once.

The PlayStation 5 and the Xbox Series X have the same price, but the $399.99 PlayStation 5 Digital Edition "offers a substantial discount at no cost in terms of performance or hardware, besides the disc reader," said Guilherme Fernandes, analyst at gaming analysis firm Newzoo.

Hardware pricing decisions have won and lost generational console battles as makers look to build the critical mass of consumers that will attract games developers to their platform.

Sony, which is making a stylistic departure from recent generations with the predominantly white PlayStation 5, is offering the version without a disk drive as digital downloads become standard.

Upcoming titles unveiled for the console include platform exclusives "Final Fantasy XVI" from Square Enix, a new "God of War" title from Sony's Santa Monica Studio and a "Harry Potter" role-playing game.

The announcement bolsters PlayStation's lineup following the reveal of a slew of titles including Marvel's Spider-Man: Miles Morales from in-house studio Insomniac Games in June. That title will also be available on the PlayStation 4, Sony said.

Sony's "fantastic" games line-up shows it is "more aggressively betting on exclusives" with "Microsoft focused on cheaper entry prices to get users into the Xbox ecosystem," said Serkan Toto, founder of game industry consultancy Kantan Games.

With both companies seeking to drive recurring revenues, Sony said PlayStation Plus subscribers will have access to a back catalogue of titles from the aging PlayStation 4.

Gaming industry revenues have been on a tear among consumers staying home due to the COVID-19 pandemic, helping drive up Sony's shares 46% since its March lows.

Heading into the year-end shopping season "you are balancing a weak economy with a higher need for people to entertain themselves at home," said Carolina Milanesi, analyst at Creative Strategies.

The PlayStation 5 will go on sale on Nov. 12 in the United States, Japan, Canada, Mexico, Australia, New Zealand and South Korea and on Nov. 19 in the rest of the world.

By Sam Nussey and Supantha Mukherjee


Stocks mentioned in the article
ChangeLast1st jan.
MICROSOFT CORPORATION 0.07% 214.8 Delayed Quote.36.11%
SONY CORPORATION -0.05% 7896 End-of-day quote.6.69%
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Financials
Sales 2021 8 301 B 79 375 M 79 375 M
Net income 2021 534 B 5 106 M 5 106 M
Net cash 2021 2 212 B 21 156 M 21 156 M
P/E ratio 2021 18,1x
Yield 2021 0,62%
Capitalization 9 740 B 93 107 M 93 135 M
EV / Sales 2021 0,91x
EV / Sales 2022 0,81x
Nbr of Employees 111 700
Free-Float 96,7%
Chart SONY CORPORATION
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Sony Corporation Technical Analysis Chart | 6758 | JP3435000009 | MarketScreener
Technical analysis trends SONY CORPORATION
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 23
Average target price 9 850,00 JPY
Last Close Price 7 896,00 JPY
Spread / Highest target 65,9%
Spread / Average Target 24,7%
Spread / Lowest Target 1,32%
EPS Revisions
Managers
NameTitle
Kenichiro Yoshida Co-Chairman, President & Chief Executive Officer
Shuzo Sumi Co-Chairman
Hiroki Totoki Chief Financial Officer, Director & Vice President
Toru Katsumoto Senior Managing Executive Officer, Head-R&D
Makoto Toyoda Chief Information Officer & Executive Officer
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