Tag: Business

Promises change

As promised, former PlayStation president and new Sony CEO Kaz Hirai has revealed his rescue strategy designed to resurrect the ailing Japanese giant. The likable executive’s speech hinged on the idea of change and unification – something Sony has been striving towards with little success for years. In his presentation, Hirai...

The numbers aren't red enough

We find it hard to believe there’s been a smile on new Sony CEO Kaz Hirai’s face since he started his new high-power role just over a week ago. One look at the company’s balance sheet would be enough to plant a permanent frown on even the most jubilant of personalities. Indeed, Sony has warned investors today that...

Hirai making his mark

Sony’s financial troubles are well documented. If you’re not up to speed, then know this: the company is expected to report a whopping £2.1billion loss in its latest financial report. That’s not particularly healthy. Of course, that’s also the reason that former SCE president – and lifetime Ridge Racer fanboy – Kaz...

Laying it bare

Take-Two CEO Strauss Zelnick doesn’t foresee much longevity for troubled publisher THQ – the gaffer told an audience at the MIT Business in Gaming Conference that he believes the firm will be fully shuttered in six months time. Zelnick expanded that he believes the publisher’s biggest mistake was working with licensed...

No time for jokes

Expect to see the hairs on newly appointed Sony CEO Kaz Hirai’s head gently transition to a subtle shade of silver over the coming months. The fresh faced executive has announced a conference for 12th April where he’s expected to reveal his strategy to turn the troubled Japanese manufacturer around. With Sony predicted to lose...

Slippery slope

Idol Minds, the developer behind PSN’s well-supported arcade ache ‘em up Pain, has had a whopping four titles cancelled by long-term partner Sony over the past couple of years. While the studio is currently working on the Ratchet & Clank HD Collection, cyber snoop Superannuation reports that the developer has had multiple...

Sadly not hiring the Easter bunny, though

With the PlayStation Vita now firmly established on retail store shelves, Sony is turning its attention to ensuring there is long-term enthusiasm in the platform. In the UK it intends to achieve that by pumping a whopping £1.5 million into a fresh Easter promotional push. The new campaign will see the PS...

Zipped up

SOCOM developer Zipper Interactive has closed, Sony has confirmed. Speculation about the studio’s imminent demise began last weekend, but the firm remained tight-lipped for the majority of the week. However, Sony confirmed the sad news in a statement to Game Informer over night: Sony Computer Entertainment can confirm the closure of...

Fond farewell

Journey developer thatgamecompany is a small studio, so it’s surprising when key members of the team announce their departure for pastures new. Yesterday co-founder Kellee Santiago revealed her intention to move on, and since producer Robin Hunicke has also shut the door behind her. Hunicke – who joined thatgamecompany at the start...

So gone

It sounds as though the lights could be dimming on SOCOM developer Zipper Interactive. Kotaku reports that Sony is currently in the process of laying off staff at the American studio, where project cancellations have put its future in doubt. Zipper Interactive recently released the decent Unit 13 on PlayStation Vita and SOCOM 4 on PS3 last...

Drowning in debt

Hydrophobia Prophecy developer Dark Energy Digital has been shut down, according to a report on GamesIndustry.biz. The site reports that the company’s assets have been passed onto the recently founded Dark Energy Publishing, a new upstart created in January by Dark Energy Digital owners Pete and Deborah Jones. GamesIndustry.biz...

We can feel the hairs on new Sony CEO Kaz Hirai's head turning grey already

No sooner than the party for Hirai's promotion has ended has Sony posted a whopping $2 billion net loss for the quarter ending December 31st, 2011. The company brought in $23.37 billion in revenue, a 17.4 percent decrease year over year. Sony laid the blame on "the...

The bad news doesn't stop for troubled publisher THQ

Following  a slew of rumours yesterday, and warnings that the company might be delisted from the NASDAQ stock exchange, the company has announced that it has cut a whopping 240 jobs. According to a regulatory filing, the redundancies will go into effect before September, with the vast majority to...

Long-time Ridge Racer fan, Kaz Hirai, has been promoted to president and CEO of Sony Corp, the company announced this morning

He'll take over from Sir Howard Stringer — who will stay on as executive chairman until June — when the new roles come into effect on April 1st. Hirai's a long-time Sony employee, having cut his teeth in the...

Susan Panico, the former US gaffer of the PlayStation Network, has exited Sony according to reports on Venture Beat

Communications director, Patrick Seybold, has since confirmed the news, wishing his former colleague all the best. No reason was given for the departure. It's unknown who will take over Panico's role. Whoever it is will need a strong...

Presumably in response to ongoing rumours about its fate, THQ has released a statement reiterating its decision to exit the "kids' licensed game market" and focus on its upcoming throng of core game franchises

“THQ will be a more streamlined organization focused only on our strongest franchises [in the future],” said THQ's head gaffer, Brian Farrell. “The success of Saints Row: The Third is an..

Yesterday, a slew of Tweets by IGDA Mobile SIG chair Kevin Dent alleged that THQ was in grave financial trouble, and that it was cancelling the entirety of its 2014 game line-up while holding out hope for a potential buyer

The rumours were not true. VG247 reached out to THQ's Australian branch — presumably the only one awake at the time — who outright denied the speculation. "THQ has not..

While obviously fierce competitors, Nintendo and Sony are also in the same boat

Both are the target of the mainstream media, who seem keen to push an agenda against the dedicated portable gaming platform. As such, it's unsurprising to hear SCEE executive, Jim Ryan, comment on the Nintendo 3DS' sales resurgence in a positive manner. “One of the encouraging things about 3DS’ sales performance at..

Sony's affable executive, Kaz Hirai, might be around for a few more rounds of Ridge Racer just yet

Following reports that the cheery gaffer had been promoted to presidential status, the Japanese company has released a statement refuting the claims — stating that "nothing has been determined at this time". Given the comment's wording — and original source Nikkei's penchant for..