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Sony ramps up PS5 manufacturing as supply chain snarls ease

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2 years ago

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Even as Covid-19 lockdowns in China continue to create supply chain uncertainties things are improving, says a senior Sony executive.

Sony has said it plans to ramp up production of its PlayStation 5 console as supply chain snarls ease and signalled a radical broadening of its games portfolio including more titles on PC and mobile.

The PS5, which went on sale in November 2020, undersold its predecessor in its second year due to component shortages which have roiled the electronics industry.

But it is expected to close the gap in year three and overtake PS4’s install base the following year.

Beyond the initial ramp up “we’re planning for heavy further increases in console production, taking us to production levels that we’ve never achieved before,” Sony Interactive Entertainment CEO Jim Ryan told an investor briefing.

While Covid-19 lockdowns in China continue to create supply chain uncertainty, “things are definitely improving,” he added.

Sony has forecast PS5 sales of 18 million units in the business year to end-March compared to 11.5 million a year earlier.

READ MORE: Samsung’s blueprint features $356B investment, 80,000 jobs

PC, mobile titles

Outlining a shift by PlayStation away from just concentrating on single player games exclusive to its platform, Ryan said more PC and mobile titles will be on offer in addition to live service games, which provide continuous updated play.

While PS4 and PS5 titles are expected to make up more than two-thirds of releases this year, PC and mobile titles will make up almost half of new games in 2025.

“The initiatives to broaden our audience… will have a fundamental effect on the shape of our game portfolio,” Ryan said.

With the shift, PlayStation is aiming to keep pace with industry change that has seen cloud technology and the increased computing power of smartphones untether users from bulky hardware and more money spent by gamers in free-to-play online titles.

Amid much speculation that the metaverse, or the idea users will spend more time in simulated environments, will upend industry business models, Ryan said many consumers will continue to play games as before.

“There will be many, many individual players who prefer to enjoy games in the way that they have played them from the past 30 years or more,” he said.

READ MORE: Stock markets slump amid concerns over weak global growth

Source: TRTWorld

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Business

MIB signs an agreement to expedite business registration process

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22 hours ago

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04/05/2024

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Ministry of Economic Development and Trade and the Maldives Islamic Bank (MIB) has entered an agreement, aiming to expedite and streamline the registering services for businesses. The agreement was signed to enhance the quality of services, ensure information security, and facilitate an efficient registration process.

Following the signing of the agreement, Minister of Economic Development and Trade Mohamed Saeed disclosed that customer data can be readily verified with the assistance of the ministry’s Application Programming Interface (API). The minister stated that this would enable businesses to set up bank accounts in a convenient manner. Regarding this, Registrar of Companies Mariyam Waheed underscored the pivotal role API will play in authenticating businesses to customers and expediting in the verification process.

This initiative will significantly benefit individuals accessing online services from the ministry, fostering economic development within the nation. This marks the first agreement of its kind signed by the ministry.

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MTCC reports staggering 82.9% net profit drop

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4 days ago

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01/05/2024

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Maldives Transport and Contracting Company (MTCC) has reported a staggering 82.9% net profit decline for Q1-2024.

According to MTCC, it earned just MVR 5.2 million in net profit for the review quarter, which came down from MVR 30.8 million in the last quarter of 2023.

The company’s revenue for Q1-2024 stood at MVR 664.4 million, which is a 15.8% drop from MVR 789.2 million generated in the Q4-2023.

Moreover, MTCC reported a whopping 94.5% decline in its Gross Profit for the review quarter, registering MVR 2.5 million in Q1-2024 compared to MVR 44.3 million.

The operating profit for the review quarter stood at MVR 41.8 million, which is a 26% drop from MVR 56.5 million in Q3-2023.

The net asset value per share dropped from MVR 227.95 in Q4-2023 to MVR 226.98 to Q1-2024, while earnings per share saw a notable decline from MVR 3.83 in the preceding quarter to just MVR 0.65 in the review quarter.

Source(s): sun.mv

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STO opens showroom in Hulhumale’

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2 weeks ago

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24/04/2024

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State Trading Organization (STO) has opened a showroom specialized for construction in Hulhumale’.

The showroom was inaugurated by Construction Minister Dr. Abdulla Muthalib during a special ceremony held on Tuesday night.

Speaking at the ceremony, STO’s Managing Director Shimad Ibrahim stressed the role of the company’s former managements and board members in carrying forward the company and therefore extended them gratitude.

Situated at the same location as STO’s Hulhumale’ shop – next to STO’s Smart Store near Hulhuamle’ Hospital – the construction solutions showroom was opened following renovations up to modern standards.

STO reports that all construction-related products sold by the company will be available at the showroom including some of the most renowned brands sold by the company; Makita tools, Nippon paint and concrete from prominent mix designing brands among others.

The state-owned company is prominent in the local construction industry as STO’s constructions solutions is the largest importer and seller of construction-related products in the Maldives.

STO noted that customers can now place orders for construction-related products including Makita tools and Nippon paint via the Hulhumale’ showroom which would eliminate the need to travel to Male’ to make the purchases. Arrangements have been made in the showroom to prepare the colors of Nippon paint ordered by the customers on demand.

Henceforth, they attributed the opening of the new showroom as something which would bring easements to the lives of Hulhumale’ residents and construction industry partners operating in the suburb.

Source(s): sun.mv

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