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Sony is looking to bolster its PlayStation brand. (Photo by Tamara Bitter on Unsplash)
Sony has announced plans to boost research and development spending for its PlayStation gaming division in the current financial year.
Sony Group will boost research and development spending at its gaming unit by about 10% to 300 billion yen ($2.2 billion) this financial year, the Nikkei reported on Thursday.
R&D spending at the games business behind the hit PlayStation 5 console will surpass R&D spending on electronics and semiconductors this year, the business daily said.
Sony did not immediately respond to a request for comment but its gaming business has set out ambitious plans to invest in live-service games, which offer continuous updated play, and it also plans to offer more PC and mobile games.
Its stock was up 4% in Tokyo morning trade after a brokerage upgrade.
Rival Microsoft has turned to acquisitions to boost its subscription and cloud-based gaming services to better compete with market leader Sony.
On Wednesday the U.S. Federal Trade Commission said it was appealing a federal judge’s ruling that Microsoft could go forward with its $69 billion purchase of “Call of Duty” maker Activision Blizzard.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – Reuters)
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