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PS5 Disc And Digital Pre-Orders Continue To Sell Out Nightmarishly Fast

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One criticism of Sony’s rollout of PS5 pre-orders this week is that they were dropped like a bomb without any warning. Or in fact, the opposite, a promise that they wouldn’t start until a day later when they went live that evening.

Xbox began to snarkily counter with an exact date and time that Series X/S pre-orders would go live, but even when potential Sony buyers know when pre-orders are going up now, that isn’t helping either.

Last night there was a message on the Walmart website that gave a specific time that PS5 pre-orders would open. Everyone sat there on the page, ready for the clock to strike the hour and…

…about thirty seconds later, the stock was completely sold out.

Whether it’s seconds or minutes, trying to get your hands on a PS5 has been nothing short of a nightmare for many potential buyers so far, and that’s across every retailer, be it GameStop selling out of the 12 units per store they were allocated for in person reservations, or megacorp Amazon selling out because someone found the link early. As expected, PS5 pre-orders are already popping up on Ebay topping $1,000.

Another aspect to this story is that many consumers who are landing a PS5 are not able to get the one they want. Sony made headlines when they revealed the all-digital console was $400 compared to the $500 of both the disc model and the Xbox Series X. But at least in this early batch of pre-orders, it absolutely seems like Sony has made way, way more of the higher priced disc stock available, meaning that those lucky enough to snag a pre-order are often doing so for an extra $100, even if they have no interest in the disc one.

There is not a full collection of data about pre-orders, but some early results are…illuminating:

While I don’t believe that’s the true ratio of disc to digital Sony has made available, it is not anywhere close to 50/50, and I would not be surprised if it was in fact something like 10:1. I’ve seen digital models sellout before the link was even fully live for a page at numerous storefronts.

What’s unclear is how many PS5s Sony has sold through pre-orders already and how many more of these restocks are going to happen in the next two months. I do think it’s too early to be worried that if you didn’t get one in these wild last 36 hours, you won’t get one at all. But it’s very clear that Sony has A) mangled this launch from a consumer perspective (though they’re still getting paid, obviously) and B) heavily limited stock of the cheaper console on purpose to ensure most early adopters get the pricier model.

Stay tuned for more updates about PS5 pre-orders, as when they come in, it’s going to be a feeding frenzy to snag one from now until release, it seems.

Source:- Forbes

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Sony shares pop on strong outlook. One analyst predicts it could rise another 50% – CNBC

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A man walks past the logo of Japans Sony displayed at the company’s showroom in Tokyo on October 28, 2020.
KAZUHIRO NOGI | AFP via Getty Images

SINGAPORE — Shares of Sony surged in Tokyo on Thursday, a day after the Japanese electronics giant raised its annual profit forecast.

Sony shares in Japan were up 6.69% on Thursday even though Japan’s broader index, the Nikkei 225, fell 0.37% on the day.

On Wednesday, Sony raised its forecast for its annual operating income by 13% to 700 billion yen (approx. $6.7 billion). It came as the firm announced a operating profit of about 317.8 billion yen (around $3.04 billion) for the three months ended Sept. 30.

Jefferies Asia’s Atul Goyal told CNBC on Thursday that he’s “extremely bullish” on Sony. The firm owns the stock and currently has a “buy” rating on Sony, with a price target of 13,230 yen per share — more than 50% higher than where the price currently sits.

… this is one of the best companies that we have seen in our coverage.
Atul Goyal
Managing Director, Jefferies Asia

Sony is set to release its next generation video game console, PlayStation (PS) 5, which would come on the back of the blockbuster success of PlayStation 4.

“It is looking very solid, very strong for PlayStation 5 and the whole cycle that lies ahead of us for the next 5 to 6 years,” Goyal, a managing director at Jefferies Asia, told CNBC’s “Squawk Box Asia” on Thursday. He highlighted Sony’s claims that the company received as many preorders in 12 hours for the PS5 as it did in 12 weeks for the PS4.

“You would hear shortages of PlayStation 5 because there’s more demand than supply,” the analyst said.

It’s not due to supply disruptions as “they have been able to recover from the … supply-side shortages that they were facing early on because most of the assemblies are happening in China and most of the supply chains have recovered almost entirely in China.”

“Demand is so strong for the product that that will keep the news flow that this product is sold out in most places for a while,” Goyal added.

Coronavirus impact

The video game sector has been among the few that have benefited from more people staying at home as a result of the coronavirus pandemic. That has raised questions over the sustainability of that bounce in a post-pandemic environment.

“The increase of gaming that we have seen partly is because of stay home, not just working from home, but vacationing from home where people are not traveling, and even the weekends you stay home,” Goyal pointed out. “This increase, part of that will be reverted as and when Covid goes away, and in my base case it doesn’t go away entirely until the end of 2021.”

Still, he said some of these habits that have changed as a result of the pandemic “could last longer.”

“We’re not factoring in (the) next five, six years of Covid-driven earnings increase. What we are factoring is Playstation 5-driven upside, driven by digital sales,” the analyst added.

Looking beyond Sony’s gaming business, which accounts for a sizable chunk of its operating income, Goyal said the firm’s music business is “also spectacular” while its image sensing business is also set to recover.

“All in all, this is one of the best companies that we have seen in our coverage,” he said. “Businesses in these three areas are all duopoly or oligopoly, and Sony’s a leader in all of them, with meaningful growth ahead.”

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Apple ramps up efforts to build own search engine to rival Google, says report – CNET

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Apple and Google

Apple is ramping up efforts to develop its own search engine, according to a Financial Times report published Wednesday, as US antitrust authorities threaten a lucrative deal that sets Google’s search engine as the default option on iPhones and Samsung phones. 

The iPhone’s latest operating system version, iOS 14, has started to show its own search results and link directly to websites when users type in search queries directly from the home screen, according to industry sources cited in the report.

This move adds to mounting evidence, according to the report, that Apple is working to build a rival to Google search, including Apple’s poaching of John Giannandrea, Google’s head of search, more than two years ago.

Earlier this month, the US Justice Department filed a long-expected antitrust lawsuit against Google over its search dominance, alleging that Google “unlawfully maintained monopolies through anticompetitive and exclusionary practices in the search and search advertising markets.” 

At the heart of the Justice Department’s case are Google’s contracts with other companies, which allow the tech giant’s search engine to be used as the default option. Google pays billions of dollars each year to maintain that default spot. 

Google has been the iPhone’s default search engine for more than a decade. It’s been widely reported that Google pays Apple between $8-12 billion each year for its search engine deal, which is a boon for both tech giants. If it turns out the deal is blocked by the DOJ, Apple will need to supply an alternative for its iPhones. 

 Apple couldn’t immediately be reached for comment. 

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Apple seems pretty interested in search

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Apple might be building a Google competitor, Audible adds more podcasts and an ad measurement company raises $350 million. This is your Daily Crunch for October 28, 2020.

The big story: Apple seems pretty interested in search

Apple has a growing interest in search technology and might even be working on a product to compete with Google, according to The Financial Times.

The most visible change is the fact that in iOS 14, Apple is now showing its own results when you type queries in the home screen. In addition, there seems to be an increase in activity from Apple’s web crawler.

There may be more of an opportunity here as the U.S. Justice Department has sued Google over what it claims are anticompetitive behaviors around search. However, this doesn’t necessarily mean Apple and Google will soon be going head-to-head in search — it could just be a sign that Apple’s Siri voice assistant is getting more search queries.

The tech giants

Joe Rogan, Alex Jones and Spotify’s illusion of neutrality — Spotify is facing criticism after Joe Rogan brought Alex Jones of InfoWars onto his show.

Audible further expands into podcasts — Audible is adding approximately 100,000 podcasts.

Apple eyes the TikTok generation with an updated version of Clips — The update brings much-needed support for vertical videos, allowing for sharing to TikTok and the “Stories” feature in other social apps.

Startups, funding and venture capital

DoubleVerify, a specialist in brand safety, ad fraud and ad quality, raises $350M — DoubleVerify’s technology can detect fraud, viewability and brand safety.

Outrider raises $65M to bring its autonomous tech to distribution yards — The startup has built a three-part system that includes an autonomous electric yard truck, software to manage the operations and site infrastructure.

Lunchbox raises $20M to help restaurants build their own ordering experiences — CEO Nabeel Alamgir said that if restaurants can handle more online orders themselves (rather than just relying on delivery apps), they’ll make more money while also maintaining a direct relationship with their most loyal customers.

Advice and analysis from Extra Crunch

As venture capital rebounds, what’s going on with venture debt? — While venture capital is back setting new records, it appears that its lesser-known sibling won’t be able to match the past few years’ results.

Current and upcoming trends in Latin America’s mobile growth — Latin America is home to one of the fastest-growing mobile markets in the world.

Dear Sophie: Any upgrade options for E-2 visa holders interested in changing jobs? — Another edition of Sophie Alcorn’s column answering immigration questions about working at technology companies.

(Reminder: Extra Crunch is our membership program, which aims to democratize information about startups. You can sign up here.)

Everything else

Qualtrics CEO Ryan Smith is buying majority stake in the Utah Jazz for $1.6B — Smith sold Qualtrics to SAP for $8 billion in 2018.

US online holiday sales to reach $189B this year, up 33% from 2019 — That’s according to a new forecast from Adobe Analytics.

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 3pm Pacific, you can subscribe here.

 

 

 

 

 

 

Source:- TechCrunch

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