Sony sells off Square Enix stock

2 min read
91

Falling lara croft

Despite achieving fantastic sales figures for the PS4, Sony has been struggling as a corporation. They’ve been taking all kinds of drastic steps to save the company, the latest of which is to sell off shares to bring in some extra cash.

Poor Sony, they’re reminding me of a down on their luck hobo, pawning off whatever they’ve got. They’ve sold their valuable office space, closed retail stores, and laid off tons of people. Now, they’re expected to bring in $48 million through the sale of their Square Enix shares. The sale was made to SMBC Nikko Securities Inc, a global financial institution that hopefully won’t try to impose too much control over the game publisher.

It makes sense why Sony needs to do this – the company simply isn’t as strong as people imagine. It’s very hard to be in the hardware industry at the moment – maybe if they did more to push the cloud, they would regain consumer support. They need to survive as a business, which means being Machiavellian at times. Still unfortunate news, and probably won’t be good for the relationship between Square Enix and PlayStation.

I just hope that we still get to see Final Fantasy XV on PS4 in the near-ish future. Sony might need to sell off different divisions to survive; I just hope their CEO Kaz Hirai has a plan, because the news keeps looking really grim. Of course, when Square Enix releases Final Fantasy, Sony won’t be able to ride their stock price surge to glory. Well, assuming FFXV is as good as I’m hoping it will be.

Read  Every Spider-Man (and Spider-Ham!) in Into The Spider-Verse, explained

Last Updated: April 17, 2014

Zoe Hawkins

Wielding my lasso of truth, I am the combination of nerd passion and grammar nazi. I delve into all things awesome and geek-tastic. You can read more of my words over at www.borngeek.co.za, or just follow me on all the social networks to get the true range of my sarcasm and wit.

Check Also

Days Gone has been delayed to April 26, 2019

Days Gone is, from what I’ve played of it, not a very good game. Sony’s very good at maki…