Hop, Skip and a Jump: Sony’s Shares Go Up

Howard Stringer, Sony’s Chariman, looking smug in a marbled labyrinth.

Following the report of Toshiba officially pulling the plug on HD-DVD, Sony’s shares rose as much as 5% throughout the day.

The death of HD-DVD will likely lead to a higher adoption rate of the PS3, which in turn may lead to more NPD results in the vein of January, that had the PS3 outselling the 360 in the United States.

This then perpetuates the domino effect that we seem to be having. Both Universal and Paramount have now obviously announced their allegiance to Blu-ray, solidyfying the potential the format has to succeed.

Regardless of where our allegiances may lie, there’s no denying that a Playstation 3 that sells upwards of 250k in a US month is a good thing for the gaming industry.

Source: Next-Gen.biz

Image: Shiho Fukada for The New York Times