Sony Corp (ADR) (NYSE:SNE) Rises Above The Competition With Record PlayStation 4 Sales

Sony Corp (ADR) (NYSE:SNE) blew competitors out of the water, with its recent announcement at the Game Developers Conference (GDC) in San Francisco. With Japanese multinational conglomerate continuing to show why it is the leading game consoles. Figures released as at March 1; Sony has revealed that it has sold 20.2 million of its PlayStation console. These figures have prompted Sony to reveal that the Playstation 4 console is one of its fastest selling creations. The figures just continue to grow. The recent figures represent an increase in sales of approximately 2 million, when compared to January figures.

Learn what the indicators are telling the analyst about SNE.

The latest console offered by the company is now in a commanding position especially as it relates to rival consoles such as Nintendo’s Wii U and its stable Microsoft Corporation (NASDAQ:MSFT)’s Xbox One. The new figures represent a sharp upturn and represent pride for Sony as November and December US sales figure did reveal that Xbox was outperforming its PlayStation counterpart. The new figures have now certainly caught the respect of game console makers across the world and as such competitors will have to up the ante if they are to keep pace, with the new trendsetter.

The historic feat achieved by the Playstation console puts Sony in an even better position as the company insiders believe that they have a strong series of upcoming games lined up for release. At the conference, Sony Corp (ADR) (NYSE:SNE) also announced new games set for release as well as new set-top boxes in addition to Project Morpheus virtual-reality headset, its latest prototype. This is set for release in 2016. While it has a similar look to the original one, company officials note that this is more advanced in terms of its technical capabilities. As a result, they believe it will endear them even more to the consumers as it will give them a better experience.

The promising news represents an upturn in fortune coming on the heels of Sony’s announcement that they are expecting a net loss of $1.4 billion at the end of its financial year.

Cook Laurie

Cook Laurie

Laurie, a long-time member of the US Markets Daily general assignment reporter who has covered a variety of subjects from breaking news to investigative features, from stock markets to politics, and from neighborhood small business to global warming.