Sony has announced that it will be selling all of its shares in the video game developer, Square Enix, who are best known for creating some of the classic RPG adventure series' such as Final Fantasy, Kingdom Hearts and Dragon Age.
The shares will reportedly net Sony an approximate £891,525 million by the end of the fiscal year. This is the latest move by Sony to 'slim down' some of its financial burdens, which has resulted in the company reducing operating costs by closing a number of its retail stores, selling off buildings, cutting ties with some of its less profitable game studios, and reducing its workforce.The company is also reported to be selling its PC business and spinning off its struggling TV division.
These recent changes may seem a little troubling, especially as Sony has not given any particular reason as to why it has suddenly decided to sell its Square Enix shares. Nevertheless, video games is a rapidly changing and fast-paced industry and perhaps Sony is merely trying to claw back some profit from its less successful business assets. No one really knows for sure.
Nevertheless, Sony's latest home console, the PS4 has soared to the top of the home console charts, outselling Xbox One by 7 million units to 5 million units worldwide, which suggests that Sony's popularity is far from dwindling.
Sources:
http://www.extremetech.com/gaming/180762-ps4-sales-pass-7-million-units-while-xbox-one-licks-its-wounds-and-plans-a-comeback
http://www.forbes.com/sites/erikkain/2014/04/17/sony-sells-off-all-its-square-enix-shares/
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