According to a report from Bloomberg, Sony (NYSE:SONY) is planning to continue expanding its virtual reality product offerings and has plans to manufacture as many as 2 million PlayStation VR2 headsets by March 2023. As a result, Sony stock gained today.
The news site added, citing individuals with knowledge of the situation, that mass manufacturing began in September and that there had been no supply chain problems. After the product has been introduced to the market, there is a chance that the production number may be modified in response to how well it sells.
Although the industry for virtual reality headsets is only getting started, Market Research Future predicts it will be worth $57.65 billion by 2030.
During premarket trading, Sony stock increased by about one percent to $64.60.
This past February, Sony (NYSE:SONY), situated in Tokyo, Japan, introduced the VR2 headset, which is in direct competition with the products that HTC and Meta Platforms (META) Oculus offer.
The PlayStation VR2 is an updated version of the original PlayStation VR headset. It comes with a rethought version of the VR Sense controllers.
Although Sony stock has not provided an official price or release date for the new headset, The business is anticipated to start selling the item sometime in early next year. In this market, Sony stock may face competition from Apple (AAPL), which is widely rumored to be developing an augmented and virtual reality headset.
Earlier this month, Sony stock had a meeting with an antitrust authority in Europe earlier to examine Microsoft’s (MSFT) proposed acquisition of Activision for $69 billion (ATVI).
The news that Sony plans to manufacture 2 million PlayStation VR2 systems by March 2023 was positive for Sony’s stock price.
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