Sony Group Corporation American Depositary Shares (SONY) – More Bad News For PlayStation As Sony's Key Hardware Architect Retires

  • Sony Group Corp’s SONY veteran PlayStation hardware architect Masayasu Ito will retire shortly, Bloomberg reports.
  • The 60-year-old EVP of Sony Interactive Entertainment, responsible for PlayStation and Sony’s other gaming initiatives, will depart on October 1.
  • Ito would retire after five decades at Sony, having joined the Tokyo-based company in 1986 and worked on in-car audio equipment before moving on to the console division in 2000. 
  • During his tenure at the PlayStation group, Ito led engineering for the PlayStation 4 and the latest-generation PlayStation 5.
  • He also helped bring to market the upgraded PS4 Pro model, adding improved graphics and compatibility.
  • The PS5 battled supply chain and logistics jams since its debut in November 2020.
  • Sony had to raise its PlayStation 5 games console prices in Europe and Japan following economic pressures, including high inflation.
  • Sony clocked a 2% sales growth in the first quarter of FY22 to ¥2.31 trillion as the total gameplay time for PlayStation users declined 15% Y/Y.
  • Sony cut its FY22 operating profit outlook to ¥1.11 trillion from ¥1.16 trillion as its PlayStation division stammered and game sales dropped.
  • Sony’s PlayStation 5 hardware production was hampered by COVID-19 lockdowns in China.
  • Price Action: SONY shares traded lower by 0.89% at $76.54 premarket on the last check Tuesday.

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