Not all fun and games for Sony and Nintendo amid supply woes
Gaming giants Sony and Nintendo warned of ongoing supply chain issues this afternoon as the lockdown headache continues for tech firms.
Whilst Playstation maker Sony said it plans to sell 18 million PS5 consoles this year, the Japanese firm warned that the situation in China may impact this figure.
However, earnings for its gaming and network division almost trebled to 55.6 billion yen (£347m).
Meanwhile, in a bid to boost liquidity, Nintendo announced a 10-1 stock split, effective from October.
The move was unexpected by the market, but will allow retail investors to invest by making shares cheaper to snap up.
The likes of Amazon and Alphabet have made similar movements in recent months.
Like Sony, Nintendo has been whacked with shortages that have impacted production of consoles.
The video game maker said it expects to sell 21 million Switch consoles in the next, which although a staggering number, is nine per cent down year on year.
It’s not just gaming either. Both Tesla and Toyota revealed that COVID disruption in China was impacting production.