New Delhi, Zee Entertainment Enterprises Ltd (<keyword id="20115912" type="General" weightage="20" keywordseo="zeel" source="keywords">ZEEL</keyword>) is seeking rapprochement with <keyword id="19914172" type="General" weightage="20" keywordseo="sony" source="keywords">Sony</keyword> Group as it makes a last-ditch effort to resurrect a USD 10 billion merger, according to industry sources. After the Japanese multinational firm pulled the plug on its USD 10 billion merger deal in January, the Indian company reached out again to Sony to reconsider the termination and offered for talks this month, a source said. On the other hand, Sony is understood to be evaluating the proposal from Zee. Comments from Sony Picture Networks India could not be obtained as an e-mailed query remained unanswered. A Zee spokesperson said, "Since the matter is subjudice we have no comments to offer." Another source said ZEEL never stopped working for a possible reconciliation dialogue citing that it was ZEEL that moved to NCLT to make the merger happen. "The ball is in Sony's court. They need to respond if the deal has to be revived," the source said. The development comes amidst the two parties filing cases against each other after the deal collapsed. Sony had initiated arbitration proceedings before The Singapore Arbitration Center (SIAC) claiming USD 90 million (around Rs 748.5 cr) as a termination fee. On the other hand, ZEEL filed a petition before the Mumbai bench of the National Company Law Tribunal (NCLT), seeking a direction to Sony Group to implement the merger scheme. SIAC also denied Sony Group's plea seeking interim relief against ZEEL to restrain it from moving NCLT to enforce the failed merger of its subsidiary Culver Max with the Indian media house. ZEEL also initiated appropriate legal actions to contest the claims of USD 90 million filed by Sony Group before SIAC. More than two years after announcing their proposed merger, Sony on January 22 announced the termination of the deal while accusing ZEEL of not meeting closing conditions even after extending their closing period by a month. ZEEL has maintained that it was willing to meet most of the conditions. Sources said during the one-month extension of the negotiation period, ZEEL had proposed an extension of a further six months for closing the transaction, even offering to discuss any other alternate closing timeline that Sony believed would be reasonable and achievable. ZEEL had also offered that its MD and CEO Punit <keyword id="19897741" type="General" weightage="20" keywordseo="goenka" source="keywords">Goenka</keyword> would not lead the merged entity as per the condition. Earlier, the market watchdog SEBI had barred Essel Group chairman <keyword id="20115911" type="General" weightage="20" keywordseo="subhash-chandra" source="keywords">Subhash Chandra</keyword> and Goenka from holding the position of a director in any listed company. The market regulator took the action after they were allegedly found diverting funds from the company. However, this order was quashed by the Securities Appellate Tribunal (SAT). But the investigations against Goenka by SEBI (Securities and Exchange Board of India) are still pending. Last week, Sony's top management in its December quarter earnings said it will seek various options, including finding another opportunity to replace the plan and organic growth opportunities in India, which has great potential in the long term. "India on a long term basis has a great growth potential. It's a very appealing market. Therefore, we will try to seek various opportunities and if we can find another opportunity that would replace this type of plan," said <keyword id="20660368" type="General" weightage="20" keywordseo="hiroki-totoki" source="keywords">Hiroki Totoki</keyword>, president, COO &amp; CFO of Sony when asked about the company's strategy in India after the termination of the proposed merger. While, Goenka in the first earning call of the company last week, after the deal to merge with Sony collapsed, said ZEEL is focusing on a three-pronged approach -- frugality, optimisation and sharp focus on quality content. The company aspires for an 8 to 10 per cent CAGR revenue growth, with digital business growing at a much faster pace, he said. ZEEL, in the financial statement of the December quarter also informed it spent nearly Rs 427 crore on the merger process. Overall Rs 250.73 crore were spent on the merger in the nine months of FY24. It had spent Rs 176.20 crore in FY23 for the deal, announced in December 2021. If the merger were completed, the combined entity would have owned over 70 TV channels, two video streaming services -- ZEE5 and Sony LIV -- and two film studios -- Zee Studios and Sony Pictures Films India-- making it the largest entertainment network in the country.

Zee Entertainment reaches out to Sony to revive terminated merger

<ul class="summary-list"><li>It's been over six months since the <keyword id="2428812" type="PERSON" weightage="60" keywordseo="PlayStation-5">PlayStation 5</keyword> launched, and it's still nearly impossible to buy.</li><li>Despite regular restocking, <keyword id="2421871" type="PERSON" weightage="60" keywordseo="PS5">PS5</keyword> consoles sell out instantly through <keyword id="6358540" type="UNKNOWN" weightage="60" keywordseo="sony">Sony</keyword> and major chains.</li><li>Sony is now saying that PS5 <keyword id="46639" type="ORGANIZATION" weightage="60" keywordseo="supply">supply</keyword> won't meet demand until some point next year.</li></ul>It's not going to get any easier to buy a <keyword id="6532" type="COMPANY" weightage="60" keywordseo="Playstation">PlayStation</keyword> 5 anytime soon."I don't think demand is calming down this year," Sony CFO <keyword id="2575895" type="PERSON" weightage="60" keywordseo="Hiroki-Totoki">Hiroki Totoki</keyword> told analysts, <a href="https://www.bloomberg.com/news/articles/2021-05-10/sony-warns-tight-playstation-5-supply-to-extend-into-next-year">according to Bloomberg</a>. "Even if we secure a lot more devices and produce many more units of the PlayStation 5 next year, our supply wouldn't be able to catch up with demand."Totoki warned the analysts that the PS5 will remain in low supply until some point in 2022.Sony's PlayStation 5 has been in short supply since launch in November 2020 due to a variety of factors: <a href="https://www.businessinsider.com/playstation-5-fastest-selling-console-in-us-history-2020-12">overwhelming consumer demand</a>, a robust resale market that <a href="https://www.businessinsider.com/playstation-5-launch-day-us-europe-flooded-by-reseller-bots-2020-11">employs sophisticated software to beat normal consumers</a>, international <a href="https://www.businessinsider.com/boat-stuck-suez-canal-latest-setback-global-supply-chain-crisis-2021-3">manufacturing and shipping issues</a>, a <a href="https://markets.businessinsider.com/news/stocks/global-chip-shortage-4-experts-predict-how-long-affect-markets-2021-4-1030295270">global chip shortage</a> and, of course, the ongoing pandemic.Read more: <a href="https://www.businessinsider.com/amazon-walmarts-memd-growing-healthcare-ventures-2021-5">Inside Amazon's and Walmart's bets to transform healthcare as the shopping rivals carve out a new battleground</a>Sony hasn't officially said when it expects PlayStation 5 supplies to normalize, and representatives didn't respond to a request for comment.In <a href="https://www.businessinsider.com/playstation-5-hard-to-find-until-at-least-fall-2021-2">a series of interviews</a> earlier this year, PlayStation boss Jim Ryan said he expects "really decent numbers" of the console in stores by this fall. "It will increase as each month passes," <a href="https://www.gq-magazine.co.uk/culture/article/playstation-vr-jim-ryan-interview-2021">he told GQ</a>. "And the situation will start to get better hopefully quite quickly. We have been relentless in terms of trying to increase production." It's not clear if the most recent guidance from Sony's CFO is an update to Ryan's previous interview statements. Even in mid-May, over six months after launch, it's still nearly impossible to buy a PlayStation 5 from a retail outlet. When re-supplies of the console go live online, they are swept up nearly instantly. Many are still being swept up by resellers, <a href="https://www.businessinsider.com/how-to-buy-a-playstation-5-tips-from-resellers-2020-11">some of whom are using bots</a> to beat out human buyers. On StockX, a resale site, <a href="https://www.businessinsider.com/reviews/out?u=https%3A%2F%2Fstockx.com%2Fsony-ps5-playstation-5-blu-ray-edition-console-white">the PlayStation 5 is still be sold for nearly $800</a> - a $300 markup over retail of the more expensive version of the console.Got a tip? Contact Insider senior correspondent Ben Gilbert via email (<a href="mailto:bgilbert@insider.com">bgilbert@insider.com</a>), or Twitter DM (<a href="https://twitter.com/RealBenGilbert">@realbengilbert</a>). We can keep sources anonymous. Use a non-work device to reach out. PR pitches by email only, please.

Buying a PlayStation 5 is going to be difficult until some point in 2022, Sony told analysts

<ul class="summary-list"><li>Playstation boss Jim Ryan is retiring after 28 years at the company, he said Wednesday.</li><li>Ryan said he found it difficult to "reconcile living in Europe and working in North America."</li></ul>The head of PlayStation and CEO of Sony Interactive Entertainment said he's retiring to avoid the stress of constant travel for work.Jim Ryan said he would leave after 30 years at Sony. He is British and lives in the UK — but was often needed in both the US and Japan.<a target="_blank" href="https://sonyinteractive.com/en/press-releases/2023/new-management-structure-of-sony-interactive-entertainment-2/">In a statement</a> published on Wednesday, Ryan said he found it increasingly difficult to reconcile living in Europe and working in North America," despite loving his job."PlayStation will always be part of my life, and I feel more optimistic than ever about the future of SIE," Ryan added.The 63-year-old <a target="_blank" href="https://www.businessinsider.com/jim-ryan-playstation-sie-ceo-president-ps5-launch-lessons-2020-11?r=US&amp;IR=T">told Insider's Dave Smith in November 2020</a> that he used to split his months visiting PlayStation's various offices.The COVID-19 pandemic put his busy lifestyle on standby, which was a "liberating realization" for him, Ryan said."I don't think I'm performing that differently from when I was traveling here, there, and everywhere," he told Insider. "I think that's been a huge learning, and I think I'm not alone in that."He also said that working from home allowed his employees to have a little extra time to "richen their lives."Ryan joined Sony in 1994, just before the first PlayStation console was introduced. He is due to depart Sony in March 2024.The company hasn't named a permanent successor, but said Hiroki Totoki would become interim CEO of the games business when Ryan leaves.

The boss of PlayStation is retiring after 28 years, saying he's tired of traveling so much for work

<ul class="summary-list"><li>Amazon is starting to send out invitations for customers to buy the PlayStation 5 and Xbox Series X.</li><li>The company announced the invitation system in June for the in-demand PS5.</li></ul>Amazon sent out its first round of invitations to customers to buy the <a href="https://www.businessinsider.com/playstation-5-sold-out-through-2022-2021-5">highly coveted PlayStation 5</a> and Xbox Series X gaming consoles on Monday.In <a href="https://twitter.com/amazongames/status/1554175303253213185">a tweet</a> from Amazon Video Games, the company said customers who did not receive an invitation will have another chance to receive one next week.<blockquote class="twitter-tweet blockquote" data-lang="en" data-cards="" data-conversation="">—Amazon Video Games (@amazongames) <a href="https://twitter.com/mims/statuses/1554175303253213185?ref_src=twsrc%5Etfw">August 1, 2022</a></blockquote>In June, the company introduced the invitation system for the PlayStation 5 that includes a Blu-ray disc drive and costs $499.99. Any customer, not just Prime members, can request an invitation to buy <a href="https://affiliate.insider.com?u=https%3A%2F%2Fwww.amazon.com%2FPlayStation-5-Console%2Fdp%2FB09DFCB66S%2Fref%3Dsr_1_4%3Fcrid%3D3COFGV27PMC4X%26keywords%3DPlayStation%2B5%26qid%3D1659455343%26s%3Dvideogames%26sprefix%3Dplaystation%2B5%252Cvideogames%252C69%26sr%3D1-4">the PlayStation 5</a> or <a href="https://affiliate.insider.com?u=https%3A%2F%2Fwww.amazon.com%2FXbox-X%2Fdp%2FB08H75RTZ8%2Fref%3Dsr_1_3%3Fcrid%3DDF1XH5VMDDDP%26keywords%3DXbox%2BSeries%2BX%26qid%3D1659453314%26sprefix%3Dxbox%2Bseries%2Bx%252Caps%252C63%26sr%3D8-3">Xbox Series X</a> from the product's detail page on Amazon.The company said more invitations will be sent out as Amazon gets more of the items in stock.<blockquote class="twitter-tweet blockquote" data-lang="en" data-cards="" data-conversation="">—Amazon Video Games (@amazongames) <a href="https://twitter.com/mims/statuses/1554177962563588096?ref_src=twsrc%5Etfw">August 1, 2022</a></blockquote>The invitation emails come from 'Amazon.com,' and say "Congrats, you're invited!" in the subject line. The email includes a special link that customers can use to buy the consoles, but they only have 72 hours to do so.<div type="image" title="a screenshot of the PS5 console page on Amazon with the Request invitation button, a screenshot of the invitation email for the PS5, a screenshot of the purchase page for the PS5 that customers with the invitation link can see" height="3500" width="5285" msid="93306021" hostid="261" sizebytes="267924"></div>Last year, Hiroki Totoki, CFO of Sony which produces the PS5, told analysts that <a href="https://www.businessinsider.com/playstation-5-sold-out-through-2022-2021-5">the company wouldn't be able to produce</a> enough of the gaming consoles to meet demand until sometime in 2022. <a href="https://www.businessinsider.com/playstation-5-sold-out-through-2022-2021-5">Different issues including</a> shipping delays and the global chip shortage have limited the PS5's production since it was released in November 2020.Amazon said the invitation program is designed to prevent shortages of the consoles, and the price gouging caused by robot traffic for items that are high in demand but low in supply."We work hard every day to provide customers with low prices, vast selection, and fast delivery," Llew Mason, vice president of consumer engagement at Amazon, told Insider. "This includes developing a shopping experience where customers can purchase the items they're interested in without having to worry about bad actors buying and reselling them at a much higher price."In addition to the PS5 and Xbox Series X, customers can also request an invite to buy the <a href="https://affiliate.insider.com?u=https%3A%2F%2Fwww.amazon.com%2FConsole-Horizon-Forbidden-Bundle-PlayStation-5%2Fdp%2FB0B16656Z2">PS5 Console- Horizon Forbidden West Bundle</a> that costs $549.99. The invitation program is starting in the US with the PS5 and the Xbox Series X consoles. Amazon said it hopes to expand the program to other countries and products in the future.

Amazon is sending out invites to buy the highly coveted PlayStation 5 and Xbox Series X gaming consoles — here's how to sign up

<ul class="summary-list"><li><keyword id="6358540" type="UNKNOWN" weightage="60" keywordseo="sony">Sony</keyword> and Microsoft are both scheduled to launch new game consoles this holiday season: The <a href="http://www.businessinsider.com/category/playstation-5">PlayStation 5</a> and <a href="http://www.businessinsider.com/category/xbox-series-x">Xbox Series X</a>, respectively.</li><li>Microsoft has been regularly showcasing the next-generation Xbox in videos, and doing interviews, for months. We've heard about launch games, and services, and we've even seen the box itself.</li><li>Sony has shown its new <keyword id="2428812" type="PERSON" weightage="60" keywordseo="PlayStation-5">PlayStation 5</keyword> gamepad, and talked about the console's internals, but otherwise has been comparatively quiet: No games, no box, and no price.</li><li>During the company's most recent investor call, Sony CFO Hiroki Totoki responded to an analyst question about that lack of <keyword id="2421871" type="PERSON" weightage="60" keywordseo="PS5">PS5</keyword> talk from Sony: "I would wait for PS5 sales to make that judgement," <a href="https://twitter.com/6d6f636869/status/1260497105933787138">he said</a>.</li><li><a href="http://www.businessinsider.com/">Visit Business Insider's homepage for more stories.</a></li></ul>The PlayStation 5 is nearly upon us.Sony's next-generation game console is expected to arrive this holiday season. But what does it look like? And how much will it cost? What games will be on it?These foundational questions about Sony's next-generation PlayStation console remain unanswered.We've seen the gamepad (above), and we've heard about its internals, and we just recently got a look at a game engine demo running on a PS5, but that's about it. On the contrary, Microsoft has been openly speaking about its next-gen console plans for several years at this point. We've seen what the next-gen Xbox looks like, we know about some big next-gen games, and we've even heard about some pricing expectations. The difference in approach between Sony and Microsoft was evident enough that analysts on the latest investor call asked CFO Hiroki Totoki about it.<div type="image" title="Xbox vs Playstation" height="1030" width="1500" msid="75815045" hostid="261"></div>One analyst asked Totoki on the latest investor call if he would give the PlayStation team a "passing score," <a href="https://twitter.com/6d6f636869/status/1260497105933787138">Bloomberg's Takashi Mochizuki reported</a>. Totoki said, "We consider things strategically, but [are] doing our best. As for pass or fail, I would wait for PS5 sales to make that judgement."Totoki's confidence with the PlayStation 5 has plenty of historic precedent — Sony's PlayStation line of consoles has been wildly successful. The company's most recent console, the <keyword id="1568713" type="COMPANY" weightage="60" keywordseo="PlayStation-4">PlayStation 4</keyword>, is its second-best selling with over 100 million sold since launch in late 2013. That said, early reports on the PlayStation 5's launch point to a <a href="https://www.businessinsider.com/playstation-5-price-supply-report-2020-4">relatively low supply and a surprisingly high price point</a>: As much as $550.That unusually high price — $100 more than the launch price of the PlayStation 4 — is reportedly due to the console's internals, which are driving Sony's decision to price the console higher than in its previous generation. As a result, Sony is said to be producing fewer launch PS5 consoles than it has in prior generations as the company anticipates lower consumer demand due to the high price.There isn't a set release date for the PlayStation 5 yet, but Sony plans to launch it during the 2020 holiday season. In its latest major reveal, for the DualSense gamepad that will come with the console, Sony reaffirmed a holiday release window.Read the original article on <a href="https://www.businessinsider.com/sony-playstation-5-vs-next-gen-xbox-sales-2020-5">Business Insider</a>

'Wait for PS5 sales': Sony remains quiet but confident about the PlayStation 5, even as Microsoft shows off the next-gen Xbox

<ul class="summary-list"><li><keyword id="6358540" type="UNKNOWN" weightage="60" keywordseo="sony">Sony</keyword> posted third-quarter operating profits of $3.42 billion Wednesday, double analysts' estimates.</li><li>It lifted its expected operating profit for the year to March by roughly a third, to $8.95 billion.</li><li>But Sony said production delays might force customers to wait longer for their <keyword id="2421871" type="PERSON" weightage="60" keywordseo="PS5">PS5</keyword> consoles.</li></ul>Sony has raised its full-year profit outlook by a third, helped by pandemic-fueled demand for games, movies, and electronics, but says it is struggling to build enough <a href="https://www.businessinsider.com/sony-ps5-playstation-5-review">PlayStation 5</a> consoles amid a global shortage of semiconductors.The Japanese electronics and entertainment conglomerate made the announcements <a href="https://www.sony.net/SonyInfo/IR/library/presen/er/archive.html">Wednesday</a> as it released its fiscal third-quarter earnings. It said some customers might have to wait longer for their consoles as it competed for chips with other businesses such as smartphone makers and car companies."It is difficult for us to increase production of the PS5 amid the shortage of semiconductors and other components," Hiroki Totoki, Sony's chief financial officer, said at a press briefing.This follows the chaos already associated with the PS5 launch. After its release in November, the console quickly <a href="https://www.businessinsider.com/where-to-buy-ps5">sold out</a> on online retail sites in the US, Europe, and Japan, thanks to demand for video games from people spending more time at home during the coronavirus pandemic.<a href="https://www.businessinsider.com/playstation-5-launch-day-us-europe-flooded-by-reseller-bots-2020-11">Reseller bots</a> quickly sneaked in, with one reseller group snagging nearly 3,500 consoles. And in the UK, some customers who ordered a <a href="https://www.businessinsider.com/amazon-ps5-playstation-5-orders-uk-delivery-wrong-items-2020-11">PS5 for release day said Amazon shipped them random items instead</a>, including a foot massager and pet food.Despite the shortage of components and the problems associated with the PS5 launch, Sony still expects to sell more than 7.6 million PS5 consoles by the end of March, Totoki said.The shift to the new games console is also expected to encourage gamers to move to online downloads or subscription services, helping Sony boost the profitability of its gaming unit.Sony's operating profit for the October-to-December quarter jumped 20% to 359.2 billion yen, or $3.42 billion, from a year ago, double the 179 billion yen, or $1.70 billion, estimate from six analysts surveyed by Refinitiv.The company has now lifted its expected operating profit in the 12 months through March by roughly a third to 940 billion yen, or $8.95 billion.Read more: <a href="https://www.businessinsider.com/token-london-fintech-startup-raises-vc-funding-from-sony-and-sbi-2021-1?r=gd-sub">We got an exclusive look at the pitch deck that open banking startup Token used to raise $15 million from SBI and Sony</a>Alongside expecting continued demand for the PS5, Sony resumed some shipments of image sensors to customers in China in late November, Totoki said. Its revenue in this division was down 9.1% in the quarter.The company had worried about the potential impact on its sensor business following US restrictions on sales of chips using US technology to the Chinese smartphone maker Huawei.In November, <a href="https://www.businessinsider.com/huawei-to-sell-honor-brand-to-consortium-of-agents-and-dealers-in-bid-to-save-its-supply-chain-2020-11">Huawei revealed plans to sell its budget-brand smartphone maker Honor</a>. After the spin-off, Honor last month said it had signed deals with chip suppliers and component makers, including Sony.Huawei was Sony's second-largest image sensor customer after Apple, accounting for about fifth of its $10 billion in sensor revenue, according to analysts.Historically better known for hardware like the Walkman music player and TVs, Sony has invested heavily in recent years in beefing up its entertainment offerings while streamlining its consumer electronics business.This year it plans to close a factory in Malaysia that manufactures home-audio equipment, headphones, and other products.The company has also delayed the release of four films - <a href="https://www.businessinsider.com/no-time-to-die-delay-james-bond-uncharted-ghostbusters-pandemic-2021-1">"Peter Rabbit 2: The Runaway," "Cinderella," "Ghostbusters: Afterlife," and "Uncharted"</a> - as the coronavirus pandemic continues to wreak havoc on the movie industry.

Sony just posted booming profits but told customers to expect more PS5 delays

<ul class="summary-list"><li>Nearly 140,000 <keyword id="2428812" type="PERSON" weightage="60" keywordseo="PlayStation-5">PlayStation 5</keyword> consoles have been re-sold through <keyword id="3407148" type="PERSON" weightage="60" keywordseo="StockX">StockX</keyword>, the company said.</li><li>It's been over six months since the <keyword id="6532" type="COMPANY" weightage="60" keywordseo="Playstation">PlayStation</keyword> 5 launched, and it's still nearly impossible to buy.</li><li>Despite regular restocking, <keyword id="2421871" type="PERSON" weightage="60" keywordseo="PS5">PS5</keyword> consoles sell out instantly through <keyword id="6358540" type="UNKNOWN" weightage="60" keywordseo="sony">Sony</keyword> and major chains.</li></ul>Over half a year after the launch of the PlayStation 5, the resale market for Sony's hit new game console remains strong.As of Tuesday morning, people were paying just shy of $800 for the $500 version of the console <a href="https://www.businessinsider.com/reviews/out?u=https%3A%2F%2Fstockx.com%2Fsony-ps5-playstation-5-blu-ray-edition-console-white">on re-sale website StockX</a>. Those ongoing <keyword id="6357824" type="UNKNOWN" weightage="60" keywordseo="sales">sales</keyword> represent a small portion of the nearly 140,000 PlayStation 5 consoles that have been re-sold just through StockX, the company told Insider. The average resale price for the $500 PlayStation 5 model is $800, and the $400 model averages $741 at resale, StockX said. "Across all domestic and international versions (US, UK, and EU), the two PlayStation 5 consoles saw their highest average prices during Cyber Weekend," a StockX representative told Insider. "Since Cyber Weekend, we've seen prices decline in response to increased supply from the brands, and the consoles are now selling for considerably less than their holiday peak."Read more: <a href="https://www.businessinsider.com/boston-dynamics-roboticist-daily-routine-stretch-atlas-2021-5">I program robots at Boston Dynamics to do things like jump and lift boxes. My team uses a 'job jar' to fill empty time while working from home - here's what my day is like.</a><keyword id="2241731" type="PERSON" weightage="60" keywordseo="resellers">Resellers</keyword> have dominated the PlayStation 5 market from day one: Some used <a href="https://www.businessinsider.com/playstation-5-impossible-buy-at-launch-reseller-bots-yeezy-sneakers-2020-11">sophisticated "bot" software</a> that enables them to skip digital lines, and some employ more traditional methods for securing hard to find items.Either way, resellers have assuredly contributed to the ongoing PS5 supply issues.Sony's PlayStation 5 has been in short supply since launch in November 2020 due to a variety of factors: <a href="https://www.businessinsider.com/playstation-5-fastest-selling-console-in-us-history-2020-12">overwhelming consumer demand</a>, the robust resale market, international <a href="https://www.businessinsider.com/boat-stuck-suez-canal-latest-setback-global-supply-chain-crisis-2021-3">manufacturing and shipping issues</a>, a <a href="https://markets.businessinsider.com/news/stocks/global-chip-shortage-4-experts-predict-how-long-affect-markets-2021-4-1030295270">global chip shortage</a> and, of course, the ongoing pandemic.Unfortunately, Sony says that supply issues won't get better anytime soon."I don't think demand is calming down this year," Sony CFO Hiroki Totoki recently told analysts, <a href="https://www.bloomberg.com/news/articles/2021-05-10/sony-warns-tight-playstation-5-supply-to-extend-into-next-year">according to Bloomberg</a>. "Even if we secure a lot more devices and produce many more units of the PlayStation 5 next year, our supply wouldn't be able to catch up with demand."Totoki warned the analysts that the PS5 will remain in low supply until some point in 2022.<div type="image" title="PlayStation 5 StockX" height="923" width="1685" msid="82561483" hostid="261"></div>Reseller groups operating around the launch of the PlayStation 5 last year were able to secure thousands of consoles, with some resellers boasting of their hauls with photos on social media.Since launch in mid-November 2020, thousands of customers around the world have tried and failed to order the new PlayStation and Xbox consoles through a variety of retailers. Some people even described scoring a console as being similar to finding "one of Willy Wonka's golden tickets." Reseller groups took to popular chat app Discord to organize buying drives to secure as many consoles as possible. <a href="https://www.businessinsider.com/playstation-5-launch-day-us-europe-flooded-by-reseller-bots-2020-11">One UK-based group sourced nearly 3,500 consoles</a> to sell to customers searching for the next-gen console.It appears that the subsequent six months have been very good to resellers.Got a tip? Contact Insider senior correspondent Ben Gilbert via email (<a href="mailto:bgilbert@insider.com">bgilbert@insider.com</a>), or Twitter DM (<a href="https://twitter.com/RealBenGilbert">@realbengilbert</a>). We can keep sources anonymous. Use a non-work device to reach out. PR pitches by email only, please.

Nearly 140,000 PlayStation 5 consoles have been sold by re-sellers on StockX, a popular shoe resale website

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5c5b0d46b3a202091c712a42-2400/gettyimages-1091978860.jpg" border="0" alt="Sony Corp. Chief Financial Officer Hiroki Totoki meets the press in Tokyo on Feb. 1, 2019, to discuss Sony's earnings estimate for the 2018 fiscal year." data-mce-source="Kyodo News/Getty Images" />Kyodo News/Getty ImagesSony Corp. Chief Financial Officer Hiroki Totoki meets the press in Tokyo on Feb. 1, 2019, to discuss Sony's earnings estimate for the 2018 fiscal year.</div></div></div><ul class="summary-list"><li>Discussing Sony's FY2018 Q3 earnings, chief financial officer Hiroki Totoki said the movement toward cloud gaming and video game streaming services could be a potential threat to the company's <a href="https://www.businessinsider.com/category/playstation" target="_blank" rel="noopener">PlayStation</a> gaming brand.</li><li>Sony's PlayStation 4 is still the most popular video game console of this generation, with more than 90 consoles sold worldwide.</li><li>The large install base has allowed PlayStation to steadily increase earnings from digital games, movies, and subscriptions, even as console sales have started to decline.</li></ul>While its competitors at Microsoft, Amazon, and Google are diving head first into new streaming technology for video games, Sony sees the rise of cloud gaming services as a potential risk.During its <a href="https://seekingalpha.com/article/4237420-sony-corporation-sne-q3-2018-results-earnings-call-transcript?part=single" target="_blank" rel="noopener">FY2018 Q3 earnings call</a>, Sony CFO Hiroki Totoki said "games going to the cloud" could be a future threat to Sony's business, and the company will continue to lean on the success of the <a href="https://www.businessinsider.com/category/playstation" target="_blank" rel="noopener">PlayStation 4</a> while exploring ways to embrace the cloud gaming trend.Sony's PlayStation 4 is the leading video game console on the market, having shipped more than 90 million units worldwide since its launch in 2013. But sales of the console have steadily declined in the past year, suggesting that the industry is ready for a new generation of console hardware to arrive. However, new technology associated with cloud gaming could remove the need for video game hardware entirely.

Sony says cloud gaming could be a future threat to its business, but it's confident people will keep gaming on the PlayStation

Good morning and welcome to <keyword id="9070519" type="UNKNOWN" weightage="60" keywordseo="10-things-in-tech">10 Things in Tech</keyword>. If this was forwarded to you, <a href="http://newsletter.businessinsider.com/join/4np/10-things-in-tech">sign up here</a>. Let's get started.1. The hackers who attacked a major US pipeline say they're just in it for the money, not for political reasons. The FBI confirmed on Monday that the hacking group known as DarkSide was behind the attack. <a href="https://www.businessinsider.com/pipeline-cyber-attack-darkside-hacker-group-shutdown-ransomware-money-politics-oil-2021-5">Read more about it here.</a>2. The National Transportation Safety Board (NTSB) said Autopilot can't have been turned on in a fatal Tesla crash last month. The NTSB's initial findings support Elon Musk's assertions that Tesla's Autopilot features were switched off at the time of the crash. <a href="https://www.businessinsider.com/tesla-crash-houston-texas-ntsb-preliminary-investigation-driver-autopilot-autosteer-2021-5">Read more about it here.</a>3. <keyword id="18635" type="CITY" weightage="60" keywordseo="Amazon">Amazon</keyword> managers told Insider they "hire and fire" people purely to hit their annual turnover goal. Amazon managers have a goal called "unregretted attrition," or URA. <a href="https://www.businessinsider.com/amazon-managers-performance-reviews-hire-to-fire-internal-turnover-goal-2021-5">Read Insider's exclusive report on it here.</a>4. Forty state attorneys sent a joint letter to Facebook opposing its plans to build an Instagram app for kids younger than 13. The lawmakers said children that young are"not equipped to navigate the challenges of having a social media account." <a href="https://www.businessinsider.com/attorney-generals-urge-facebook-abandon-instagram-kids-2021-5">Read their full letter here.</a>5. A new report found seven Apple suppliers have used forced Uyghur labor in China. This <a href="https://www.businessinsider.com/apple-supplier-accused-of-using-forced-uighur-labor-iphone-screens-2020-12">isn't the first time</a> Apple has been accused of benefiting from forced Uyghur labor, though the company has previously denied such claims. <a href="https://www.businessinsider.com/apple-china-suppliers-uyghur-muslims-forced-labor-report-2021-5">Read more about the report here.</a>6. Tesla bumped up the price of its most popular models by $500 for the sixth time this year. Buying a Model 3 now will cost you $2,500 more than it would have done in February. <a href="https://www.businessinsider.com/tesla-cost-breakdown-buying-guide-2021-3">Learn more about Tesla's gradual price-hiking here.</a>7. Getting your hands on a PlayStation 5 is going to be difficult until 2022, according to Sony. Demand for the PlayStation 5 has made it hard for consumers to buy one, and CFO Hiroki Totoki told analysts that supply isn't likely to catch up this year. <a href="https://www.businessinsider.com/playstation-5-sold-out-through-2022-2021-5">Here's why PlayStation 5 consoles have been in such short supply.</a>8. Jack Ma reportedly made a surprise visit to Ant Group's headquarters. This is one of the few public appearances Ma has made since he scrapped Ant Group's $35 billion IPO last year. <a href="https://www.businessinsider.com/jack-ma-visits-ant-group-hq-china-2021-5">Read about it here.</a>9. The head of recruitment at Uber founder Travis Kalanick's startup, CloudKitchens, resigned following a misconduct investigation. Sources told Insider the company was investigating him over a work trip to Mexico City in April. <a href="https://www.businessinsider.com/cloudkitchens-recruiting-head-resigns-after-misconduct-investigation-2021-5">Read about it here.</a>10. Amazon and Walmart are facing off on a new battleground: healthcare. Both companies launched their healthcare-delivery businesses within weeks of each other in 2019 - now, Amazon Care has its first client and Walmart Health is buying a telehealth company. <a href="https://www.businessinsider.com/amazon-walmarts-memd-growing-healthcare-ventures-2021-5">Read about why it's a sign of a troubled, evolving industry in the wake of the coronavirus pandemic.</a> <hr />Sign up for <a href="https://newsletter.businessinsider.com/join/free">more Insider newsletters here.</a>

10 things in tech you need to know today

<ul class="summary-list"><li>Shoppers are increasingly turning to resale sites to source hard-to-find holiday gifts. </li><li><keyword id="12705098" type="UNKNOWN" weightage="60" keywordseo="offerup" source="Orion">OfferUp</keyword> found that consumers are hunting down <keyword id="11930907" type="UNKNOWN" weightage="60" keywordseo="playstation-5" source="Orion">PlayStation 5</keyword> consoles and cars on its site.</li></ul>You've probably heard the warnings: Holiday gifts are going to be in short supply, hard to find, or they'll take forever to get here. It's been a constant refrain since well before the "official" holiday shopping season kicked off on Black Friday. Retailers have been urging consumers to shop early and often, warning of shipping delays and stocking issues as we get closer to Christmas.These challenges have motivated shoppers to seek out new ways of sourcing hard-to-find gifts and decor: namely, resale sites. According to <a href="https://blog.offerup.com/2021-buyers-and-sellers-guide">data from OfferUp</a>, a resale marketplace that boasts 56 million annual users, consumers are increasingly turning to what it calls "recommerce" to purchase everything from furniture to electronics and even cars. OfferUp found that 48% of Americans used a secondhand marketplace in 2020, and in 2021, about 25% plan to use resale sites to find holiday gifts and decor, according to an October survey of 1,612 OfferUp users. And, as retailers encouraged shoppers to buy early, it appears that they were listening: OfferUp found that searches for holiday gifts began spiking as early as August.OfferUp's survey also found that shoppers are indeed seeking out hard-to-find items on resale sites: About one-third of shoppers said they've sought out scarce items on resale sites in 2021 and about half say they plan to continue searching on secondhand sites if shortages continue next year.OfferUp's data lines up with <a href="https://us.mercari.blog/wp-content/uploads/2021/10/2021-Mercari-Reuse-Report-.pdf">an October report</a> from resale marketplace Mercari, which found that Americans are projected to spend over $160 billion on secondhand goods this year. Mercari estimates that as many as 75% of US adults have bought something secondhand in the last 12 months."Three-quarters of adults participating in the reuse ecosystem shows that buying secondhand is now almost as commonplace as going to the grocery store," Mercari CEO John Lagerling wrote.<h2>Searching for cars and electronics secondhand</h2><div type="image" title="Playstation 5" height="999" width="1333" msid="88194933" hostid="261"></div>So what are shoppers hunting down this year? Cars, electronics, and Christmas decor. OfferUp found that the top two search terms on its site this year were "Chevrolet Silverado" and "PlayStation 5," respectively. A global shortage of computer chips stemming from <a href="https://www.businessinsider.com/why-is-there-chip-shortage-car-companies-electronics-supply-chain-2021-2">heightened consumer demand and pandemic disruptions</a> has led to <a href="https://www.businessinsider.com/cars-most-likely-impacted-by-chip-shortage-brands-models-2021-2">shutdowns of automotive productions lines</a>. One analyst estimated there could be <a href="https://www.businessinsider.com/global-chip-shortage-supply-chain-cost-auto-industry-210-billion-2021-9">as many as 7.7 million fewer vehicles</a> made this year, leading to $210 billion in lost revenue for automakers. General Motors, which makes Chevrolet vehicles, <a href="https://www.businessinsider.com/gm-shutting-down-some-production-due-to-global-chip-shortage-2021-9">shut down production</a> at some of its plants in September, although by November, the company announced that <a href="https://markets.businessinsider.com/news/stocks/on-nov--1--no-gm-plants-will-be-closed-due-to-chip-shortage-10655585">all of its North American plants were back online</a>. Still, the Chevy Silverado remains one of <a href="https://www.motortrend.com/news/most-popular-trucks-in-2020/">the most popular cars in America</a> behind the Ford F-150, so it's no surprise that it's popular on resale sites as well. The PlayStation 5 is being <a href="https://www.businessinsider.com/chip-shortage-impacting-cars-smartphones-pcs-gaming-consoles-2021-2">hampered by the chip shortage,</a> too, which has hit game console-makers particularly hard. Sony warned in February that it was having trouble making more units of the PS5, which came out last year. Hiroki Totoki, Sony's chief financial officer, blamed the "shortage of semiconductors and other components." <a href="https://www.businessinsider.com/playstation-5-sold-out-through-2022-2021-5">He later told analysts</a> that Sony didn't expect the issues to abate anytime soon."I don't think demand is calming down this year," he said, <a href="https://www.bloomberg.com/news/articles/2021-05-10/sony-warns-tight-playstation-5-supply-to-extend-into-next-year">according to Bloomberg</a>. "Even if we secure a lot more devices and produce many more units of the PlayStation 5 next year, our supply wouldn't be able to catch up with demand."And on Wednesday, <a href="https://www.theverge.com/2021/12/6/22821037/ps5-playstation-5-restock-available-walmart-plus-queue-deal-sale">Walmart stocked the PS5</a> for its Plus members, only for the console to sell out in less than an hour. Now, as the holidays approach, OfferUp is seeing a surge in searches for other popular products: Peloton products have seen an 85% spike, and Pokémon cards, the Nintendo Switch, Yeezy shoes, and Squishmallows have seen a jump as well. But big-ticket gifts like cars and game consoles aren't the only items in short supply: Christmas decor is hard to find too, and shoppers are now hunting for it on resale sites.OfferUp found that "Christmas tree" has been one of the 25 most-searched-for items since November, which makes sense: <a href="https://www.businessinsider.com/artificial-christmas-trees-prices-increasing-shipping-crisis-2021-9">Artificial Christmas tree prices have jumped</a> as the companies who produce them struggle with ongoing <keyword id="11894138" type="UNKNOWN" weightage="60" keywordseo="supply-chain" source="Orion">supply chain</keyword> turmoil worldwide, <a href="https://www.businessinsider.com/reviews/out?platform=browser&amp;postSource=bi%7C6141fbd4654b0242b50e30b4&amp;sc=false&amp;type=LINK-WITH-REVIEW-SLASH-OUT&amp;u=https%3A%2F%2Fwww.wsj.com%2Farticles%2Fsupply-chain-strains-hit-prices-inventories-of-artificial-christmas-trees-11631698200&amp;sessionid=1639070914395xp4i8ohj">The Wall Street Journal reported</a>. Congested ports mean deliveries of new trees, wreaths, and garlands are delayed, and soaring shipping costs have caused some retailers so raise their prices as much as 25%.

People are hunting for artificial Christmas trees, pickup trucks, and PS5s on resale sites as supply chain issues present holiday shopping headaches

<ul class="summary-list"><li>The <keyword id="6451058" type="UNKNOWN" weightage="60" keywordseo="Semiconductor">semiconductor</keyword> industry is facing serious supply issues as global demand spikes.</li><li>The modern world relies on <keyword id="145965" type="TECHNOLOGY" weightage="60" keywordseo="semiconductors">semiconductors</keyword> for everything from working at home to military applications.</li><li>These are 9 quotes from analysts, CEOs and politicians that help explain what the chip shortage means for stocks and national security.</li></ul>Semiconductors are a critical part of the modern world. They're used in everything from iPhones to fighter jets, and without them, much of the technology that makes daily life possible in 2021 simply wouldn't be able to exist.Every time you step into a car or send an email, you're using semiconductors. So, when the global supply of these precious <keyword id="22901" type="PERSON" weightage="60" keywordseo="chips">chips</keyword> begins to wane, it can be a big problem.Take the auto industry as an example. These days, electronics account for roughly 40% of a vehicle's value, according to a comprehensive analysis from Deloitte. And in order for those electronics to function properly, <keyword id="6368404" type="UNKNOWN" weightage="60" keywordseo="automakers">automakers</keyword> need semiconductors. Without them, production lines stall, and supply can't keep up with demand.Over the past few months, it's become clear that there is a global shortage of semiconductors. Some blame the problem on poor planning, supply-chain complexities, and a tradition of keeping chip inventories low in key industries due to expense.However, others argue the chip shortage is more a function of the world's growing demand due to 5G developments, the expansion of online gaming and video streaming, and the increasing complexity of modern automobiles.Whatever the reason, one thing is clear, the world needs more chips. Without them, production in key industries will begin to fall, and that could mean serious consequences for the stock market or even national security.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-best-small-cap-growth-thesis-rbc-2021-2" target="_blank" rel="noopener">RBC says to buy these 15 stocks as small companies keep dominating the market - and details why each is a top pick for 2021</a>To help better understand the semiconductor crisis, here are a few quotes from CEOs, politicians, and analysts discussing the topic.Here are 9 quotes that help explain what the chip shortage means for stocks:<ol><li>"We're seeing such tight demand across the entire semiconductor supply chain right now, which we think is an important issue that the United States needs to work with partners around the world to address…We've seen <keyword id="6372405" type="ORGANIZATION" weightage="60" keywordseo="gm">GM</keyword> shutting more production lines down this week. Having cars not manufactured is a bit of an annoyance, but if we can't get critical chips we need for fighter jets, military applications, and artificial intelligence applications that the economy is increasingly running on, it's a big problem. " - NZS Capital Cofounder Brad Slingerland on <a href="https://www.cnbc.com/video/2021/02/04/why-a-semiconductor-shortage-may-cause-a-national-security-risk.html">CNBC's "Squawk Alley"</a></li><li>"Despite our mitigation efforts, the semiconductor shortage will impact GM production in 2021. We are currently assessing the overall impact, but our focus is to keep producing our most in-demand products. Semiconductor supply for the global auto industry remains very fluid." - General Motors in <a href="https://www.reuters.com/article/gm-semiconductors/exclusive-gm-hit-by-chip-shortage-to-cut-production-at-four-plants-idUSL1N2K91GH">a statement to Reuters</a>.</li><li>"It's early days, we're doing a lot. <keyword id="6355174" type="UNKNOWN" weightage="60" keywordseo="ford">Ford</keyword> knows how to scramble. We're adjusting yield management, moving the chips that we do have to the most profitable vehicles, our electric vehicles. You know, protecting production of strategically important vehicles. We're working through it right now." - Jim Farley, Ford CEO on <a href="https://www.youtube.com/watch?v=ZuCPT1vqO2w&amp;t=112s112s">CNBC's "Squawk on the Street"</a>.</li><li>"We write to express our concerns about the impact that the global shortage of automotive-grade semiconductor chips will have on auto manufacturing in the United States. This shortage threatens our post-pandemic economic recovery, the consequences of which stand to be especially acute in dominant auto manufacturing states like ours. We believe that the incoming administration can continue to play a helpful role in alleviating the worst impacts of the shortage on American workers, and we urge you to work with us to address the global semiconductor shortage."- Senators Todd Young (R-Ind.) and Rob Portman (R-Ohio), and a group of bipartisan Senators, <a href="https://www.young.senate.gov/newsroom/press-releases/young-urges-biden-administration-to-support-indiana-auto-manufacturing-by-addressing-global-semiconductor-shortage_">in a letter</a> to Director of the National Economic Council Brian Deese.</li><li>"We expect semiconductor industry supply constraints on both wafers and substrates to only partially ease in second-half 2021, with some leading-edge (computing, 5G chips) tightness to extend into 2022." - BofA Securities <keyword id="9638403" type="UNKNOWN" weightage="60" keywordseo="semiconductor-stocks">semiconductor stocks</keyword> analyst Vivek Arya in a note to clients.</li><li>"We have seen, I think, probably shortage across the entire industry. There is a couple of factors driving that. One is the shape recovery, I think, across many of the sectors that were present now. We saw acceleration of digital transformation also consistent with this trend of the enterprise transformation of the home...So that's driving a situation that demand is outpacing supply." - Cristiano Amon President of Qualcomm in fiscal year <a href="https://investor.qualcomm.com/news-events/press-releases/detail/1302/qualcomm-earnings-release-available-on-companys-investor">Q1 2021 earnings call</a>.</li><li>"This is one that President Biden really has to get involved in because he can make a difference. We need all (companies) at work in order to be able to meet this incredible chip shortage." - Jim Cramer on <a href="https://www.cnbc.com/video/2021/01/25/cramer-biden-can-make-a-difference-in-semiconductor-sector-due-to-chip-shortage.html">CNBC's "Squawk on the Street"</a></li><li>"While there's been some debate about whether shortages will be good or bad for the (semiconductor) group, our view is that such a supply/demand imbalance is unquestionably positive for the semi suppliers. Historically, when semis are in shortage, it has been favorable to pricing." - Raymond James semiconductor stocks analyst Chris Caso in a note to clients.</li><li>"It is difficult for us to increase production of the PS5 amid the shortage of semiconductors and other components. We have not been able to fully meet the high level of demand from customers (but) we continue to do everything in our power to ship as many units as possible to customers who are waiting for a PS5." - Hiroki Totoki Sony's CFO in the company's <a href="https://www.sony.net/SonyInfo/IR/library/presen/er/archive.html">FY Q3 2020 earnings call</a>.</li></ol>Read more: <a href="https://www.businessinsider.com/sports-betting-outlook-betmgm-mgm-entain-investing-tips-strategy-draftkings-2021-2" target="_blank" rel="noopener">The CEO of the sports-betting app BetMGM breaks down his outlook for the industry - and shares 3 pieces of advice for investors targeting the sector</a>

The global chip shortage is hurting businesses and could be a national security issue. Here are 9 quotes that help explain what that means for the market.

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5a7433b885cdd489228b46d7-1641/kaz hirai.jpg" alt="Kaz Hirai" data-mce-source="David Becker/Getty Images" data-mce-caption="Sony's outgoing CEO, Kazuo &amp;quotKaz&quot; Hirai." />David Becker/Getty ImagesSony's outgoing CEO, Kazuo "Kaz" Hirai.</div></div></div><ul><li>Sony CEO Kazuo "Kaz" Hirai will step down from the role at the end of the fiscal year in March.</li><li>He will be replaced by the current CFO, Kenichiro Yoshida, who worked with Hirai over the past six years on the unifying "One Sony" strategy.</li><li>The company will report its Q3 earnings on Friday, where it expects yet another successful quarter, and might give more guidance on the longer-term strategy under Yoshida.</li></ul><hr /> Sony's Kazuo Hirai is stepping down from his role of chief executive officer (CEO), <a href="https://www.theverge.com/2018/2/2/16962934/new-sony-ceo-kenichiro-yoshida-kaz-hirai">The Verge first reported</a>.Hirai, who took over the role almost six years ago, will become the company's chairman, while CFO Kenichiro Yoshida will inherit the top spot. Chief strategy officer Hiroki Totoki will replace him as CFO.Hirai and Yoshida <a href="https://www.theguardian.com/technology/2018/jan/17/sony-ceo-kaz-hirai-aibo-ces-2018">have been credited with the company's successful turnaround over the past few years</a>, with business decisions like the letting go of the VAIO PC division and a renewed focus on profitable areas, such as PlayStation and the components arm.Yoshida will continue the "One Sony" vision laid out by Hirai, officially stepping in at the end of the fiscal year this March."Mr. Yoshida combines a deeply strategic mindset with a relentless determination to achieve defined targets, and the ability to take a global viewpoint," Hirai said in a statement reported by The Verge."I believe he possesses the breadth of experience and perspective, as well as the unwavering leadership qualities required to manage Sony's diverse array of businesses, and as such is the ideal person to drive the company forward into the future," he added."As Chairman, I will of course offer my full support to Mr. Yoshida and the new management team, and do all I can to facilitate a smooth transition and ensure their future success."Yoshida said that he will keep focusing on long-term growth, and "aim to build on the business foundations established by Mr. Hirai."He said: "My first priority will be to finalize our next mid-range corporate plan starting in April, together with our immediate business plan for the fiscal year 2018, and then move ahead swiftly with implementation.""This is a hugely exciting time at Sony as we look to our future, and together with my management team I intend to determine the best path for us to move forward, and devote my full effort to creating a better Sony that captures the imagination of our many stakeholders around the world."Sony might expand on its strategy when it reports its Q3 earnings later today (Friday, February 2), where it's forecasting a 630 billion yen ($5.73 billion/£4.03 billion) operating profit. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/slauerhoffbrug-bridge-netherlands-flying-drawbridge-lifts-lowers-unique-way-2018-1">You've never seen a bridge like this before</a></h3> <div> <iframe class="bijwplayerclass" data-player="jwplayer" src="https://content.jwplatform.com/players/0x0MvamX-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;" allowfullscreen=""></iframe><script>function receiveMessage(event){ console.log(event.data.fullscreen); Android.fullscreen(event.data.fullscreen); }window.addEventListener("message", receiveMessage, false);</script> </div> </div>

Kaz Hirai is stepping down as CEO of Sony

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/559cc646dd08953a318b4653-937-703/bezos-6917.jpg" border="0" alt="Jeff Bezos " data-mce-source="Michael Seto/Business Insider">Michael Seto/Business InsiderAmazon CEO Jeff Bezos.</img></div></div></div>Good morning! Here's what you need to know in tech today.1. <a href="http://uk.businessinsider.com/apple-watch-sales-estimates-2015-7">It looks like Apple Watch sales are tanking.</a> Apple hasn't broken out specific sales figures for its new smartwatch, but analytics firm Slice Intelligence thinks they have plummeted to around 5,000/day, down from roughly 35,000/day on April 13.2. <a href="http://uk.businessinsider.com/security-experts-report-against-federal-proposals-to-ban-hard-encryption-2015-7?op=1">Some of the world's leading cryptography and security experts have condemned UK/US proposals to mandate backdoors in encryption.</a> They warn that "the costs would be substantial, the damage to innovation severe, and the consequences to economic growth difficult to predict."3. <a href="http://uk.businessinsider.com/facebook-opens-wind-powered-data-center-in-fort-worth-texas-2015-7">Facebook is opening a new wind-powered data centre in Fort Worth, Texas.</a> It is the social networking giant's fifth, and will cost at least $500 million.4. <a href="http://blog.gotinder.com/post/123460733076/introducing-verified-profiles">Tinder is introducing verified profiles.</a> It means that if you encounter someone famous, you will know it's really them. The company also announced it is currently seeing 26 million matches a day.5. <a href="http://www.arabianbusiness.com/billion-dollar-turnaround-sony-mobile-ceo-598355.html">Sony says it will "never" exit the smartphone business.</a> Hiroki Totoki, the CEO of Sony Mobile, has given an interview reaffirming the company's commitment to the mobile business - despite its recent struggles.6. <a href="http://uk.businessinsider.com/new-facebook-feature-video-newsfeed-2015-7">Facebook is revamping its video player, letting users pop videos out of the newsfeed and move them wherever they want on the page.</a> It's part of the social networking giant's efforts to juice up its video offerings to take on YouTube.7. <a href="http://uk.businessinsider.com/amazon-loses-appeal-in-case-where-watch-maker-accused-it-of-misleading-search-results-2015-7">Amazon may be forced to stop showing the names of products it doesn't sell in search results. </a>The online retail giant currently displays competitors' products if a customer searches for an item from a brand that doesn't sell on the site.8. <a href="http://uk.businessinsider.com/google-is-facing-increasing-pressure-to-extend-right-to-be-forgotten-to-us-users-2015-7">Google is facing increasing pressure to extend the "right to be forgotten" to US users.</a> Currently, the ability to have search results about yourself removed in certain circumstances is only implemented in Europe. But US privacy group Consumer Watchdog is lobbying the Federal Trade Commission to look into whether Google should introduce the controversial "right" in the US too.9. <a href="http://uk.businessinsider.com/capital-controls-cut-greece-off-from-itunes-app-stores-paypal-internet-2015-7">Greece is losing financial access to the internet.</a> Capital controls put in place in the country have left Greeks unable to pay for internet services like iTunes and cloud storage services.10. <a href="http://uk.businessinsider.com/heartbleed-fix-faw-openssl-hacking">The team that discovered Heartbleed have found another "high severity" security flaw affecting the internet.</a> Heartbleed was the biggest security issue discovered in 2014, and researchers think they have now found another similar problem. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/facts-about-greek-economy-bailout-euro-crisis-2015-6">6 mind-blowing facts about Greece's economy</a></h3> <div> <div> <script src="http://player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="JueTR5dTo3QyUhdNPH4LuPBLRuUjzGwo" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> <script> if (typeof RunFunctions === 'undefined') { var RunFunctions = []; } RunFunctions.push(function() { var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', 'JueTR5dTo3QyUhdNPH4LuPBLRuUjzGwo',{ autoplay: 'false' }); }); </script> <noscript><div>Please enable Javascript to watch this video</div></noscript></div> </div> <script>(function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }()); </script> </div>

You Searched For "hiroki totoki" and got 13 results

Zee Entertainment reaches out to Sony to revive terminated merger

PTI

Buying a PlayStation 5 is going to be difficult until some point in 2022, Sony told analysts

Ben Gilbert

The boss of PlayStation is retiring after 28 years, saying he's tired of traveling so much for work

Sophia Ankel

Amazon is sending out invites to buy the highly coveted PlayStation 5 and Xbox Series X gaming consoles — here's how to sign up

Britney Nguyen

'Wait for PS5 sales': Sony remains quiet but confident about the PlayStation 5, even as Microsoft shows off the next-gen Xbox

Ben Gilbert

Sony just posted booming profits but told customers to expect more PS5 delays

Grace Dean,Reuters

Nearly 140,000 PlayStation 5 consoles have been sold by re-sellers on StockX, a popular shoe resale website

Ben Gilbert

Sony says cloud gaming could be a future threat to its business, but it's confident people will keep gaming on the PlayStation

Kevin Webb

10 things in tech you need to know today

Isobel Asher Hamilton

People are hunting for artificial Christmas trees, pickup trucks, and PS5s on resale sites as supply chain issues present holiday shopping headaches

Avery Hartmans

The global chip shortage is hurting businesses and could be a national security issue. Here are 9 quotes that help explain what that means for the market.

Will Daniel

Kaz Hirai is stepping down as CEO of Sony

Edoardo Maggio

10 things in tech you need to know today

Rob Price