Sony shares slide most in four years

After reporting eighth consecutive quarterly loss, PlayStation maker shares dive more than 10 percent.

Following its eighth consecutive quarterly loss, Sony shares have fallen by more than 10 percent. That represents the single most precipitous drop in over four years, Bloomberg reports.

Shares on the Tokyo Stock Exchange fell today from ¥1,519 ($16) to ¥1,365 ($14), the biggest dip since November 2008. Sony this week reported a quarterly loss of ¥10.8 billion ($116 million) and slashed its PlayStation Vita sales forecast by an additional 3 million units.

Sony said it saw the "slow penetration" of the PS Vita as an ongoing issue, and promised to support the handheld device with more software. The company expects to sell a total of 7 million PS Vita units by the end of March.

Sony is expected to announce the PlayStation 4 during a media briefing on February 20 in New York City. Next-generation consoles are expected to provide a jolt not only to platform holders, but also to the industry at large, which has seen overall sales slide for months on end.

Written By

Eddie Makuch is a news editor at GameSpot, and would like to see the Whalers return to Hartford.

Discussion

264 comments
Shadowsnake
Shadowsnake

You think 10% is bad now wait to see if Sony is going to announce they are blocking used games on PS4 next week.

SamuelBui1990
SamuelBui1990

Well, the reason no one buy PS vita because you charge 59 bucks for 16 GB. Rip off your customer was never a good idea. This is not 2006 anymore, every thing is cheaper now. Sony need to adapt and make more affordable product.


enoslives7
enoslives7

Sony is like almost all other japanese companies, they are great at copying others, but have no ability to create. We are seeing this also with the slow collapse of nintendo and many other japanese companies. japanese games suck pretty hard anymore. They peaked in the 90s. 

For better or worse, corporations like EA, Activision, and Rockstar have all but killed japanese games.


TheOnlyConan
TheOnlyConan

This is what happens when you let hardware sit for seven years.

FoxbatAlpha
FoxbatAlpha

Haha Sony. Me so sorry u no good company anymore. Sayonara sucka! 

ACWH
ACWH

Sales are sliding because there is a recession. Times are tight and gaming isn't a priority. Secondly, ripping off consumers doesn't endear a company to it's customers. If more high quality, bug free games get released then sales will pick up.

Devils-DIVISION
Devils-DIVISION

I wonder (however unlikely it is) if the PS4 will beat the sales figure of the PS2. The PS3 was late to the game 6 years ago, so I wonder what effects this next-gen will bring.

It's interesting when you think about it, but the sales for the PS3 are only 5 million less than the 360 which stands at something like 75 million. The PS2, although it has a nine year sale figure, has sold still more than 150 million units - more than the two put together.

itchyflop
itchyflop

you pay extortionate prices for four letters on their products, the parts inside are the same, just tested more thoroughly.

Vodoo
Vodoo

Sony has to change their whole attitude. They continue to sell their electronics (tv's, home theaters ect...) at a premium price for not so premium quality. There's many other manufacturers, namely Samsung & LG, that sell BETTER products for much less than Sony. Wake up, Sony!! It's not 1990 anymore and you don't have the best tv on the block. 

But old school Japanese business people are extremely stubborn and stuck in their ways. This outdated thinking is whats losing them money. I don't know how much longer they can pretend that they're a top-shelf name. The public isn't buying your crap anymore because they feel like they've been ripped off.

FlashCharge
FlashCharge

Sony needs software unique to the PS. But the PS Vita was a mistake. The lack of games for the PSP really turned off gamers from its handhold hardware market. I agree with billabowski that Sony needs to innovate and design the PS4 to be developer friendly.

billlabowski
billlabowski

I don't see Sony being around in the next decade. Not even PS4 will save them because they've taken such a hit developing it. The past 13 years Sony hasn't introduced anything other companies don't already have, and cheaper. No innovation = lights out. 

Valtero
Valtero

"Sony said it saw the "slow penetration" of the PS Vita as an ongoing issue..."

That's what she said.

harold317
harold317

The day gaming started to be controlled by money-hungry shareholders who know a lot about making money but nothing about videogames, was the day gaming was doomed.

frodo10
frodo10

They expect a £200 handheld console with insanely overpriced accessories to do well, honestly how many people did they think would invest in that especially since the Vita doesn't have the strongest library of games.

austrato
austrato

Of course it will be live-streamed. Even I farting is live-streamed.

Vorexum
Vorexum

Sony should make only four things. 

1. Consoles/Games

2. Cameras 

3.TVs (Cut the damn price though) 

4. Software 

All the other stuff like phones, PCs and etc... Cut that part, or make it better and more affordable.


The3rdGracchus
The3rdGracchus

Playstation All Stars, Sly Cooper, the entire Vita platform: Sony is just releasing stuff to die. They don't market any of it and, in the case of the vita, don't release any damn games for it! I hope that money went into R&D for the next gen systems. Otherwise, Sony is boned.


gouldjw
gouldjw

Oh, further proof that they're a failure and their hardware and games suck and they're trapped by their own IP and lack of innovation and their system is just a toy and not for hardcore gamers and they should just give up and, and, and...

Oh wait... This isn't Nintendo and I'm not Tom Mc Shea... Never mind. Carry on...

Angelsoft717
Angelsoft717

Could be the rumor of them blocking used games aswell. People who buy and shortsell stocks tend to be extremely paranoid, and it makes sense since I'm willing to bet more than alot of people won't buy if it blocks them.

garysingh34
garysingh34

Im really glad in a way becuase their PS VITA selling tactics sucked arse with their propriety memory cards! I am a fan of Sony but could not justify and support the PS VITA for this. I hope they have learnt they cant take the piss out of their customer base. Nintendo don't do this.

179107199999
179107199999

@enoslives7 no its gamers who stood for lackluster products and unfinished games that put this on Sony.and lets be honest MS will be in the same boat soon enough.Japan has way better games than the West.All we get is shooters and some hack n slash.

itchyflop
itchyflop

@Vodoo 3 companies in the world make all the tv's, they all come out of the same factories !! Ur right dude, the vita sucks (and i have one), what a waste of 300 notes !! Havent touched it since i completed uncharted. Im seriously thinking will sony still be in the tv market at all soon, it ll be lg and samsung 

X-Eli-X
X-Eli-X

@Vodoo I've been a Sony enthusiast for over 15 years, but I don't think I could've said it much better than this. It's time to get their finger back on the pulse of society and bend a little bit.

HammerStrike11
HammerStrike11

@Davimus518 

Those are revenue figures.  Disney and MS are both massively profitable (billions$$ net profit per quarter), where as Sony has lost money for two consecutive years.  Granted, there are a lot of options with a $71 billion revenue stream, so they are not out by any means, but negative cash flows also means R&D spending, or other "investments", such as putting out the PS4 as a loss leader, are negatively impacted.  I have heard a lot of people comment on how mundane the rumored specs are for the next gen systems from MS and Sony.  Wonder what Sony's poor financial state plays into that.  Sony can't eat a massive subsidy for the PS4 hardware when it launches, so it wouldn't be surprising if they had to scale back the spec on their hardware.  MS would also realize this and figure they wouldn't need to loss a ton on each unit either, so perhaps they relaxed their spec as well?

itchyflop
itchyflop

@billlabowski i dont understand how they can spend so much "developing it" i mean you can "develop" a better pc in a matter of hours!

Devils-DIVISION
Devils-DIVISION

@harold317 @oflow 

And this 'doom' you're referring to took place when in Sony's past? Sony has pumped out more IP's on the market than any of it's competitors. If the 'shareholders' are at fault here, and Sony is the only one willing to take the risks associated with IPs, then I hope they keep doing what they're doing. I want to see much more PS3 exclusives in the future, with newer and different brand names.

Devils-DIVISION
Devils-DIVISION

@frodo10 

I think the handheld department needs to be dropped. They should just focus on phones with Vita capabilities. Perhaps then it would be worth the price.

Devils-DIVISION
Devils-DIVISION

@Vorexum 

I think they should stick with phones. I have a Sony Xperia TX - wonderful phone! Plus I've been through a tonne of phones and find this one to be real nice.

I reckon they just need to combine the PS Vita department with their phone department.

borelarox
borelarox

@Vorexum Sony should make only games and TVs... And it's rather possible that's what is going to happen in a few years according to these news... A destiny I believe Nintendo and MS will share when the steam box arrives.

 I hope they keeping making awesome games like Zelda, GoW and Halo thou

DominionChamber
DominionChamber

@Vorexum Sony's software is terrible. They should license their software to a third party, lets say Google since they already have a partnership.  I agree with the rest though. Their TVs are nice, yet, extremely overpriced.

Sevenizz
Sevenizz

@The3rdGracchus Um, All Stars had a heavy marketing push - what you smokin'?  Too bad it still sucked though.

Sony is just missing something when it comes to gameplay - I can't quite put my finger on it.  The games look pretty and flashy - but I just can't remember a fun game on the PS3.


Sorry Sony - I'm out.

The3rdGracchus
The3rdGracchus

@garysingh34 Their continued arrogance on the Vita front is mind-boggling. Even a modest price drop could help sales. And as for paying over 1/3rd of the system's retail price for a 32GB memory card? Pure insanity.

It's a shame, too, cause the Vita could have been really something. 

MooncalfReviews
MooncalfReviews

@179107199999 JRPGs haven't evolved in 10 years. WRPGs are king now, as they actually have serious involved stories, choices, and massive open worlds.

Outside of the RPG market I half agree, kinda. Except for the fact that Dishonored, Red Dead Redemption, Alan Wake, LA Noire, Deus Ex: HR Minecraft and The Walking Dead have all been amazing games that were all just better and more interesting than anything to come from the east in years (except maybe Catherine, which is super unique and I loved it).

horizonwriter
horizonwriter

@itchyflop @Vodoo The Vita doesn't suck, just the games for it.  It's actually a pretty outstanding piece of tech as is the PS3, which has been one of the most solid consoles and best blu-ray players on the market.  It's there other products that this statement applies to.

HammerStrike11
HammerStrike11

@borelarox

Why is everyone so excited about the Steambox?  How is it any different then an HTPC?  I have not read anything of how this will be different then any other PC a thousand other manufactures  can and are already putting out.  Does anyone really think a $999 HTCP, a.ka. Steambox, is really going to compete against $399/$299 dedicated console?  Sounds like the NEO GEO or, more closely, the 3DO.  I wish them the best of luck, but I don't see what Valve's angle is or, frankly, what new they are bringing to the market.

unaminous
unaminous

@Sevenizz You can't remember a fun game on the PS3? Have you ever even played LBP?

RustedTruck650
RustedTruck650

@Sevenizz @The3rdGracchus You say nonsense like that out of your own experience, meaning u like regular casual games. Stick to you pc or xbox.