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Sony (SONY, $80.74) set up a dedicated PlayStation mobile gaming unit in a major push to diversify beyond consoles. The Japanese gaming giant launched PlayStation Studios Mobile Division on Monday and said it will run independently of the console business.
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To highlight its mobile gaming intentions, the gaming giant also announced the acquisition of Helsinki- and Berlin-based mobile game developer Savage Game Studios. Savage Game Studios – which is yet to release a game – was founded in 2020 by veteran developers Michail Katkoff, Nadjim Adjir, and Michael McManus, who collectively have decades of experience working at developers
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The move comes after a tough second quarter for Sony’s gaming division, and the company’s downgrading of its full-year profit forecast for the business as the Covid-induced boom — during which people were stuck at home playing video games — begins to fade.
Why it matters
Sony has dominated the console market for several years, thanks to the PlayStation, but the company is now looking to diversify. This year, the Japanese gaming giant said it plans to release around 50% of games on PC and mobile by 2025, up from about a quarter currently. Consoles account for about 27% of the $196.8 billion games market, whereas mobile makes up more than half of revenues.
