Sony Surrenders This Video Game Market to Nintendo [The Motley Fool]
Microsoft Corporation (MSFT)
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Source: The Motley Fool
Sony Surrenders This Video Game Market to Nintendo The Japanese tech giant prefers to focus on the PS5 rather than develop a new handheld console. Sony ( NYSE:SNE ) was once a major player in handheld gaming consoles. Its first handheld, the PSP (PlayStation Portable), sold 81 million units between 2004 and 2014. But its successor, the PS Vita, only sold 16 million units between its launch in late 2011 and its discontinuation earlier this year. The PS Vita failed due to a lack of compelling titles, weak marketing efforts, its use of pricey proprietary memory cards, and tough competition from Nintendo 's ( OTC:NTDOY ) 3DS, which used weaker hardware but dazzled gamers with its dual screens and stereoscopic 3D effects. In a recent interview with Game Informer , Sony Interactive Entertainment CEO Jim Ryan confirmed that the company would no longer develop handheld consoles. Ryan stated that the Vita was "brilliant in many ways," but that "clearly it's a business that we're no longer in
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