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Published on : Jul 29, 2014

After a nearly USD 10 billion loss over the last six years, Sony Corp has plans of reviving its consumer electronics hero – the PlayStation. Sony will be repositioning the video game console as a center of streamed network services such as social media, music and movies apart from games. The matter is still in its infancy stage of discussion and the plan is to generate revenue from the large network of PlayStation users. A new breed of managers has been handed over the task of developing revised strategies for the same. If things go right, Sony’s gaming and network segment will be able to earn USD 1 billion in the fiscal year starting from April 2016, making it Sony’s most profitable part of the firm after a financial services unit.

With Apple Inc.’s iTunes and other music and movie services such as Spotify and Netflix Inc., Sony has lagged behind in the network services segment and this is not the first time the Japan-based company has tried its hand with networked content services. 

Apple’s iTunes has a network base of over 800 million active users, as against Sony’s 52 million. But the company hopes this move can lend PlayStation a future edge.