Entertainment

PlayStation maker Sony’s stock price plummeted after Microsoft’s Activision Blizzard stormed.Business news

PlayStation maker Sony’s stock plummeted after rival Microsoft behind rival console Xbox agreed to buy game developer Activision Blizzard for $ 68.7 billion (£ 50.5 billion).

Japanese tech giants plummeted nearly 13% in Tokyo. U.S. company said It will buy businesses whose titles include Call of Duty and Candy Crush.

This represents a new challenge in console battles, where PlayStation is now widely regarded as the dominant player.

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The title of Activision Blizzard includes Call of Duty Pic: Activision.

A concern for Sony may be that Activision games could be pulled from the PlayStation system, which means that it will sacrifice the main source of revenue PlayStation currently provides to developers. ..

It could also put pressure on the Japanese conglomerate to respond by pursuing its own large-scale acquisitions.

In recent years, Sony has strengthened its network of in-house game studios, delivering a series of hits, including the Spider-Man series.

The pipeline also has titles such as Gran Turismo 7 and Horizon for Bidden West.

Microsoft relies heavily on the Halo series, and its latest article has been postponed before its December release.

Meanwhile, we are actively expanding our Game Pass subscription service.

Sony 5-day stock chart 19/1/22
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Sony’s 5-day stock chart as of Wednesday

Microsoft boss Satya Nadella announced the acquisition of Activision on Tuesday, taking Xbox companies a leap into the mobile gaming space and playing a key role in the “metaverse” where people shop, play and socialize online. Said. ..

Sony is the global conglomerate behind products such as TVs and smartphones, and also owns a movie and music production business.

However, Microsoft, which creates software and provides cloud services, has a market capitalization of more than 14 times.

David Gibson, an analyst at MST Financial, told the Financial Times:

“If Microsoft dedicates its franchise to its platform, it looks like financial suicide, but you may not care if the platform will be more powerful.”

PlayStation maker Sony’s stock price plummeted after Microsoft’s Activision Blizzard stormed.Business news

Source link PlayStation maker Sony’s stock price plummeted after Microsoft’s Activision Blizzard stormed.Business news

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