Tech

Sony Unveils Plan for Financial Unit IPO Amid Sluggish PlayStation 5 Sales

Published

7 months ago

February 14, 2024

Sony Group Corp.’s American depositary receipts (ADRs) (SONY) tumbled over 4% in intraday trading Wednesday after the Japanese entertainment giant lowered sales projections for its PlayStation 5 console and said it would list its Financial Services unit next year.

Sony reported fiscal 2023 third-quarter PlayStation 5 hardware sales of 8.2 million units Wednesday. Although the number marked a record high for quarterly unit sales of the console, it still fell short of the company’s target. Sony also revised its full-year sales projection down to 21 million from 25 million units.

The company said it won’t release “any new major existing franchise titles” for the console in the coming fiscal year. Reports that Microsoft Corp. (MSFT) could bring Xbox-exclusive titles to the PlayStation 5 and the Nintendo (NTDOY) Switch might help Sony’s software revenue from PlayStation 5 owners, but may do little to encourage new customers to purchase a Sony console.

That’s bad news for Sony, as the profitability of the PlayStation 5 declines. Sales in Sony’s Game & Network Services segment in the third quarter rose 16% from a year ago, boosted by third-party software sales, but operating income declined 26% as promotions for PlayStation 5 hardware ate into profits.

A bright spot in Sony’s earnings was the strength of its Financial Services unit, with projected full-year revenue increasing 90 billion yen (about $600 million) to 1.3 trillion yen, a 7% upward revision. Having obtained government approval for a partial spinoff, the Japanese company is aiming for an initial public offering (IPO) for the unit in October 2025.

Music segment sales increased by 16% compared with the year-ago quarter, with solid growth in streaming revenue supported by the company’s holiday music catalog, including the 29-year-old Mariah Carey Christmas album.

The company’s film segment grew sales by 10%, although the impact of last year’s writers’ strikes continues to delay some productions, Sony reported. It estimates a cost of roughly 20 billion yen ($133 million) on the current fiscal year’s balance sheet as a result.

However, anime streaming platform Crunchyroll continued to drive growth, with more than 13 million paying subscribers and plans for international expansions into Brazil, India, and Southeast Asia.

Sony ADRs were 4.7% lower at $90.93 as of 3 p.m. ET Wednesday. They’ve gained about 3.4% over the last year.

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Tech

United Airlines will offer free internet on flights using service from Elon Musk’s SpaceX

Published

4 days ago

September 13, 2024

Anne Joseph

CHICAGO (AP) — United Airlines has struck a deal with Elon Musk’s SpaceX to offer satellite-based Starlink WiFi service on flights within the next several years.

The airline said Friday the service will be free to passengers.

United said it will begin testing the service early next year and begin offering it on some flights by later in 2025.

Financial details of the deal were not disclosed.

The announcement comes as airlines rush to offer more amenities as a way to stand out when passengers pick a carrier for a trip. United’s goal is to make sitting on a plane pretty much like being on the ground when it comes to browsing the internet, streaming entertainment and playing games.

“Everything you can do on the ground, you’ll soon be able to do on board a United plane at 35,000 feet, just about anywhere in the world,” CEO Scott Kirby said in announcing the deal.

The airline says Starlink will allow passengers to get internet access even over oceans and polar regions where traditional cell or Wi-Fi signals may be weak or missing.

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Tech

How to Preorder the PlayStation 5 Pro in Canada

Published

1 week ago

September 10, 2024

Harry Miller

Sony has made it easy for Canadian consumers to preorder the PlayStation 5 Pro in Canada directly from PlayStation’s official website. Here’s how:

Visit the Official Website: Go to direct.playstation.com and navigate to the PS5 Pro section once preorders go live on September 26, 2024.
Create or Log in to Your PlayStation Account: If you don’t have a PlayStation account, you will need to create one. Existing users can simply log in to proceed.
Place Your Preorder: Once logged in, follow the instructions to preorder your PS5 Pro. Ensure you have a valid payment method ready and double-check your shipping information for accuracy.

Preorder Through Major Canadian Retailers

While preordering directly from PlayStation is a popular option, you can also secure your PS5 Pro through trusted Canadian retailers. These retailers are expected to offer preorders on or after September 26:

Best Buy Canada
Walmart Canada
EB Games (GameStop)
Amazon Canada
The Source

Steps to Preorder via Canadian Retailers:

Visit Retailer Websites: Search for “PlayStation 5 Pro” on the website of your preferred retailer starting on September 26.
Create or Log in to Your Account: If you’re shopping online, having an account with the retailer can speed up the preorder process.
Preorder in Store: For those who prefer in-person shopping, check with local stores regarding availability and preorder policies.

3. Sign Up for Notifications

Many retailers and websites offer the option to sign up for notifications when the preorder goes live. If you’re worried about missing out due to high demand, this can be a useful option.

Visit Retailer Sites: Look for a “Notify Me” or “Email Alerts” option and enter your email to stay informed.
Use PlayStation Alerts: Sign up for notifications directly through Sony to be one of the first to know when preorders are available.

4. Prepare for High Demand

Preordering the PS5 Pro is expected to be competitive, with high demand likely to result in quick sellouts, just as with the initial release of the original PS5. To maximize your chances of securing a preorder:

Act Quickly: Be prepared to place your order as soon as preorders open. Timing is key, as stock can run out within minutes.
Double-Check Payment Information: Ensure your credit card or payment method is ready to go. Any delays during the checkout process could result in losing your spot.
Stay Informed: Monitor PlayStation and retailer websites for updates on restocks or additional preorder windows.

Final Thoughts

The PlayStation 5 Pro is set to take gaming to the next level with its enhanced performance, graphics, and new features. Canadian gamers should be ready to act fast when preorders open on September 26, 2024, to secure their console ahead of the holiday season. Whether you choose to preorder through PlayStation’s official website or your preferred retailer, following the steps outlined above will help ensure a smooth and successful preorder experience.

For more details on the PS5 Pro and to preorder, visit direct.playstation.com or stay tuned to updates from major Canadian retailers.

Tech

Introducing the PlayStation 5 Pro: The Next Evolution in Gaming

Published

1 week ago

September 10, 2024

Harry Miller

Since the PlayStation 5 (PS5) launched four years ago, PlayStation has continuously evolved to meet the demands of its players. Today, we are excited to announce the next step in this journey: the PlayStation 5 Pro. Designed for the most dedicated players and game creators, the PS5 Pro brings groundbreaking advancements in gaming hardware, raising the bar for what’s possible.

Key Features of the PS5 Pro

The PS5 Pro comes equipped with several key performance enhancements, addressing the requests of gamers for smoother, higher-quality graphics at a consistent 60 frames per second (FPS). The console’s standout features include:

Upgraded GPU: The PS5 Pro’s GPU boasts 67% more Compute Units than the current PS5, combined with 28% faster memory. This allows for up to 45% faster rendering speeds, ensuring a smoother gaming experience.
Advanced Ray Tracing: Ray tracing capabilities have been significantly enhanced, with reflections and refractions of light being processed at double or triple the speed of the current PS5, creating more dynamic visuals.
AI-Driven Upscaling: Introducing PlayStation Spectral Super Resolution, an AI-based upscaling technology that adds extraordinary detail to images, resulting in sharper image clarity.
Backward Compatibility & Game Boost: More than 8,500 PS4 games playable on PS5 Pro will benefit from PS5 Pro Game Boost, stabilizing or enhancing performance. PS4 games will also see improved resolution on select titles.
VRR & 8K Support: The PS5 Pro supports Variable Refresh Rate (VRR) and 8K gaming for the ultimate visual experience, while also launching with the latest wireless technology, Wi-Fi 7, in supported regions.

Optimized Games & Patches

Game creators have quickly embraced the new technology that comes with the PS5 Pro. Many games will receive free updates to take full advantage of the console’s new features, labeled as PS5 Pro Enhanced. Some of the highly anticipated titles include:

Alan Wake 2
Assassin’s Creed: Shadows
Demon’s Souls
Dragon’s Dogma 2
Final Fantasy 7 Rebirth
Gran Turismo 7
Marvel’s Spider-Man 2
Ratchet & Clank: Rift Apart
Horizon Forbidden West

These updates will allow players to experience their favorite games at a higher fidelity, taking full advantage of the console’s improved graphics and performance.

Design & Compatibility

Maintaining consistency within the PS5 family, the PS5 Pro retains the same height and width as the original PS5 model. Players will also have the option to add an Ultra HD Blu-ray Disc Drive or swap console covers when available.

Additionally, the PS5 Pro is fully compatible with all existing PS5 accessories, including the PlayStation VR2, DualSense Edge, Pulse Elite, and Access controller. This ensures seamless integration into your current gaming setup.

Pricing & Availability

The PS5 Pro will be available starting November 7, 2024, at a manufacturer’s suggested retail price (MSRP) of:

$699.99 USD
$949.99 CAD
£699.99 GBP
€799.99 EUR
¥119,980 JPY

Each PS5 Pro comes with a 2TB SSD, a DualSense wireless controller, and a copy of Astro’s Playroom pre-installed. Pre-orders begin on September 26, 2024, and the console will be available at participating retailers and directly from PlayStation via direct.playstation.com.

The launch of the PS5 Pro marks a new chapter in PlayStation’s commitment to delivering cutting-edge gaming experiences. Whether players choose the standard PS5 or the PS5 Pro, PlayStation aims to provide the best possible gaming experience for everyone.

Preorder your PS5 Pro and step into the next generation of gaming this holiday season.