Corporate News, Corporate Features

Changing public perception

The days of entering codes into your PlayStation 3 before connecting with your peers are long over, as EA has announced that it’s doing away with its Online Pass system. In an email sent to GamesBeat overnight, the company’s senior director of corporate communications John Reseburg confirmed that the publisher’s...

Holding out for a Hirai

After years of reporting on Sony’s slumping sales, it looks like the company may finally be on the ascension. Games Industry.biz notes that the Japanese conglomerate has doubled its profit forecast for the fiscal year that ended on 31st March, raising the tally from ¥20 billion ($201m) to ¥40 billion ($403m). That’s a...

Executive promises improvements at under fire publisher

EA’s not exactly having the best of times – the recent departure of CEO John Riccitiello is evidence of that. But while the publisher’s managed to badly bungle the launch of SimCity and produce some below-par games, we can probably all agree that it doesn’t deserve the ‘Worst...

Star Wars 1313's fate not looking good

Disney’s questionable treatment of non-Star Wars: Episode VII content has continued today with the closure of legendary video game arm LucasArts. Following the Mickey Mouse marker's acquisition of LucasFilm along with its various subsidiaries late last year, the company has opted to shutter a large portion...

Final Fantasy maker down on its luck

John Riccitiello is not the only high-profile video game executive to be heading for the exit door, as Square Enix gaffer Yoichi Wada has been ousted from the company following a dire financial forecast for its current fiscal year. The outgoing boss had been in the job since 2000, but he’ll now be replaced by...

Under fire executive resigns

Electronic Arts CEO John Riccitiello has submitted his resignation to a boardroom of (presumably) stern-looking directors. The executive’s final day will be on 30th March, the close of the company’s fiscal year. After that, he’ll be forced to pack up his ballpoint pens and Commander Shepard figurines, and leave the...

Brave new world

Sony chairman and former chief executive officer Howard Stringer has announced that he will retire from his position within the firm in June. The Welsh businessman announced his departure as part of a speech at the Japan Society in New York City last week, where he revealed that he will turn his attention to the healthcare and...

Everyone knows it, apparently

Microsoft must be starting to feel threatened. The company has already predicted that mainstream consumers "won't know” about PlayStation’s upcoming next generation console announcement, and now it’s insinuated that the PS3 is a poor choice for entertainment options – despite it being

Furrowed brows

Xbox only exists because of Microsoft and Sony’s heated relationship. That’s according to former executive Joachim Kempin, who was vice president of Windows Sales at the firm. Chatting with IGN, the outspoken suit explained that the computing company wanted to tackle PlayStation head-on due to the bad blood between the...

Chunk of change

In a move that has seen the company’s share prices surge by a whopping 12 per cent, Sony has announced that it has agreed to sell its New York headquarters to the Chetrit Group for a whopping $1.1 billion. The electronics manufacturer will continue to operate out of the 37-story building for the next three years, after which it...

Make believe?

Credit ratings agency Fitch has downgraded Sony’s stocks to ‘junk’ status, according to a report by the Financial Times. The firm dropped the conglomerate’s investment-grade score to BB-, indicating that the company is vulnerable to defaulting on debt. Fellow manufacturer Panasonic was reduced to BBB-. “This wasn't an easy...

Cost cutting

Sony has announced that it will cut 2,000 jobs in Japan via an “early retirement” scheme. The Next Web notes that the cuts are set to affect the company’s head office the hardest, with 20 per cent of employees set to depart by the end of the year. The move will apparently save the manufacturer a whopping ¥30 billion (roughly $378...

Parting gifts

Earlier this week, new Sony president Kaz Hirai formally announced his departure from the SCE board. In order to celebrate his services to the division, the company held a leaving party for the busy executive in Japan earlier this afternoon. At the event, Hirai was presented with a bouquet of flowers and a custom PlayStation 3...

Sticking together

Sony is not in a good position. While core elements of its business – including the PlayStation division – are ticking over nicely, the company as a whole is bleeding money. The worry for Sony is that it’s been struggling for a while. But while the company's situation is becoming all too familiar from the outside, key...

Bigger fish to fry

New Sony president Kaz Hirai is a busy man. The former Sony Computer Entertainment gaffer has been handed the daunting task of turning the troubled Japanese manufacturer’s fortunes around. As such, the likable executive has decided to step away from his role as chairman on the SCE board. He will still serve in a part time...

Travelling alone

Journey developer thatgamecompany has announced that it has raised $5.5 million in funding – allowing it to cut its ties with Sony, and go fully independent for the first time since its formation. Earlier in the year, we revealed that the creative studio was looking to move beyond PlayStation. Speaking specifically about the...

Trying times

While the PlayStation business is doing reasonably well for Sony, the Japanese giant is not in great shape overall. New CEO Kaz Hirai has promised to return the company to profitability over the next 12 months, but on the back of four straight losses, the executive has been forced to take a pay cut. The cut will affect the...

Hostile takeover?

The real world of business is nothing like Starbreeze’s Syndicate – if it was, Overkill Software would probably find itself six-feet under by now. But thankfully for the Payday: The Heist developer, that’s not quite how takeovers work in 2012. Instead, Starbreeze has announced its intention to acquire the Stockholm-based...

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...