Sony Group Corp (NYSE:SONY) is one of the best beaten-down technology stocks to buy now.
On July 1, Sony Interactive Entertainment (SIE), a wholly owned subsidiary of Sony Group Corp (NYSE:SONY), announced it will be closing the PlayStation Store on PS3 and PS Vita globally in 2027
Sony says the PlayStation Store on PS3 will close in select markets starting this year, followed by global closures next year. The announcement comes on the heels of Sony confirming that physical disc production for new games will end in 2028. The company also confirmed it is closing the PlayStation Store on these older consoles, though previously purchased content will remain downloadable for the foreseeable future.
In addition, it has reiterated that the focus is on expanding the PlayStation experience across newer devices that users use to play games. Sony Group Corporation (NYSE:SONY) is a massive Japanese conglomerate that operates as a premier entertainment, technology, and financial services company. Its core businesses span video games (PlayStation), music and film production, high-end consumer electronics (cameras, TVs, audio), and the manufacturing of image sensors used in most modern smartphones.