Sony To Boost Investment In R&D To Bolster PlayStation Business
According to the Nikkei, Sony Group plans to increase its research and development expenditure by approximately 10% to 300 billion yen ($2.2 billion) for its gaming division in the current fiscal year.
The R&D expenses of the gaming industry behind the hit PlayStation 5 console will exceed the R&D expenses of electronics and semiconductors this year, the financial newspaper said.
Sony did not immediately respond to a request for comment, but its games business has laid out ambitious plans to invest in games on the live service that offer constant updates, and plans to offer more PC and mobile games as well.
Seb shares rose 4% in Tokyo morning trade after the brokerage update.
Rival Microsoft has been on a buying spree to boost its subscription and cloud-based gaming services to better compete with market leader Sony.
On Wednesday, the US Federal Trade Commission announced it would appeal a federal judge’s decision to allow Microsoft to move forward with its $69 billion purchase of Call of Duty maker Activision Blizzard.
