Sony Corporation’s shares have reached a historic high due to video games. According to a Bloomberg article, public interest in games and the launch of the PlayStation 5 were the main reasons for this.
The arrival of the new console coincided with an increase in COVID-19 cases in many countries. Therefore, people stay at home for a long period of time and see games as a good solution to entertain themselves. In November 2020, in Japan alone, sales of hardware and software rose 5.5% compared to November 2019. Also, 118,000 PS5 units were sold in the Land of the Rising Sun in just four days after its debut.
As a result, Sony shares rose 2.6% – currently standing at 10,025 yen. This is the first time the company has surpassed the 10,000 yen mark since 2001, a high achieved when the PlayStation 2 dominated the market.
Meanwhile, Nintendo also has good reason to celebrate: its stock has risen 6.6% – the highest number since the launch of the Wii in 2007. The reason for this is the high demand for Switch.
Sony shares on the rise due to PS5
Sony invested heavily in marketing the PlayStation 5, and the results are showing. Its launch was the biggest in the history of the Japanese company (counting video games). Not only that, but it has also consolidated itself as the biggest console debut of all time in the United States. It’s easy?