Japan’s Sony is cutting about 900 jobs at its PlayStation unit and shutting a studio in London.
Sony has slashed the full-year sales forecast for its PlayStation 5 console amid weaker-than-expected holiday sales.
Sony is seeing strong momentum for its PlayStation 5 console, with lifetime sales exceeding 50 million units.
Sony must face a mass lawsuit worth up to £6.3-billion over claims it abused its dominant position.
Sony Group on Friday said PlayStation 5 sales will jump by six million units this fiscal year, but forecast its profit will slip.
Sony plans to make two million units of the PlayStation VR2 headset by March next year, setting an ambitious outlook.
Sony is hiking the price of its PlayStation 5 games console in markets including South Africa following economic pressures.
Sony is launching a new gaming gear brand called Inzone, trotting out headphones and displays for the PC to try and expand its reach beyond the PlayStation.
Sony is moving decisively to a future where “large elements of our community extend beyond the console”, it said.
Component shortages and supply-chain disruptions risk hampering production of Sony’s flagship PlayStation 5 hardware.