Sony has a lot to celebrate right now. In addition to solidifying their position as biggest electronics manufacturer in Japan, yesterday Sony’s stock peaked at a value the company hasn’t reached in a decade.
2018 has seen the electronics manufacturer continue its dominance in the gaming market, the PS4 leading the way in console sales throughout the year. No doubt, at least some of their recent good fortune is due to the PlayStation 4’s market dominance, plus consistently successful game releases.
Since January, Sony stock has climbed an impressive 12%, factoring in a 4.44% jump on Monday. Yesterday, Sony closed at 5,705 yen, or $51.30 USD, a 10-year high for the company. The record-breaking leap propelled their market value up to the neighborhood of $65 billion, which saw them reclaim their position as largest Japanese electronics maker, a title formerly held by industrial device maker Keyence.
Despite their pervasiveness in other markets like film and music, Sony sees 28% of their operating profit for the year being attributed to their gaming segment, topping music and film’s combined 23%. With those figures in mind, it’s no surprise Sony is investing the time and talent in their gaming exclusives. To that end, God of War’s continued success is undoubtedly encouraging.
While their financial success is impressive, Sony might want to hold off on the champagne for now. Nintendo’s Switch console hybrid is wildly successful, the Xbox One X is the most powerful console on the market, and thus far the PS5 has yet to even surface on the horizon. If Sony means to hold their commanding position, they would be smart to at least announce a successor to the 5-year old PS4 before their competition catches up.