More Bad News For PlayStation As Sony's Key Hardware Architect Retires

Sony Group Corp’s SONY veteran PlayStation hardware architect Masayasu Ito will retire shortly, Bloomberg reports.
The 60-year-old EVP of Sony Interactive Entertainment, responsible for PlayStation and Sony’s other gaming initiatives, will depart on October 1.
Ito would retire after five decades at Sony, having joined the Tokyo-based company in 1986 and worked on in-car audio equipment before moving on to the console division in 2000.
During his tenure at the PlayStation group, Ito led engineering for the PlayStation 4 and the latest-generation PlayStation 5.
He also helped bring to market the upgraded PS4 Pro model, adding improved graphics and compatibility.
The PS5 battled supply chain and logistics jams since its debut in November 2020.
Sony had to raise its PlayStation 5 games console prices in Europe and Japan following economic pressures, including high inflation.
Sony clocked a 2% sales growth in the first quarter of FY22 to ¥2.31 trillion as the total gameplay time for PlayStation users declined 15% Y/Y.
Sony cut its FY22 operating profit outlook to ¥1.11 trillion from ¥1.16 trillion as its PlayStation division stammered and game sales dropped.
Sony’s PlayStation 5 hardware production was hampered by COVID-19 lockdowns in China.
Price Action: SONY shares traded lower by 0.89% at $76.54 premarket on the last check Tuesday.