Sony Forms New Company To Run Red Hot PlayStation Business

Sony today announced the formation of Sony Interactive Entertainment LLC, a new company that combines Sony's streaming and online game services such as the PlayStation Store with all facets of its PlayStation console operations, including hardware and software. The new entity will be headquartered in San Mateo, California, along with locations to be established in Tokyo and London.

"By integrating the strengths of PlayStation’s hardware, software, content and network operations, SIE will become an even stronger entity, with a clear objective to further accelerate the growth of the PlayStation business," said Andrew House, President and Global CEO of Sony Computer Entertainment Inc. and Group Executive in charge of Network Entertainment of Sony Corporation.

PlayStation 4 Controller

Sony's building on the strength and popularity of its PlayStation line. It's newest console, the PlayStation 4, leads the pack of modern generation gaming systems with more 5.7 million units sold through during the 2015 holiday season, bringing the cumulative sales nearly 40 million units as of January 3, 2016.

These days online gaming and related services have become an integral part of the gaming experience. Sony's PlayStation Network has been serving the category since 2006 with a reach that spans millions of users on a daily basis. At the same time, Sony acknowledges that it's an ever-evolving sector, making it all the more important to combine its Sony Computer Entertainment (SCE) and Sony Network Entertainment (SNEI) into a single group.

Sony's forecast for game related sales remains at 1.4 trillion to 1.6 trillion yen (around $11.8 billion to $13.5 billion in U.S. currency) for its fiscal year ending March 2018.

Via:  Sony
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