Sony Corp. (NYSE: SNE) has seen the future of PlayStation, and it is the smartphone. As a means to capture the huge market of apps and downloads onto these devices, it has created a company to spearhead the effort.
Sony Computer Entertainment announced:
… that [it] will change its company name to Sony Interactive Entertainment Inc. (SIE) effective Friday, April 1st, 2016, announced today the formation of ForwardWorks Corporation (ForwardWorks), a new company that is aimed to deploy new services toward the ever-expanding smart device market. ForwardWorks will begin its operation from April 1st, 2016.
ForwardWorks will leverage the intellectual property of the numerous PlayStation® dedicated software titles and its gaming characters as well as the knowledge and know-how of gaming development expertise which was acquired over the years with PlayStation® business to provide gaming application optimized for smart devices including smartphones* to users in Japan and Asia. The company will aim to deliver users with opportunity to casually enjoy full-fledged game titles in the new filed of the smart device market.
While PlayStation games are wildly popular on the PlayStation, Sony will have to elbow its way into the crush of software and apps that are rushing to have a piece of the same market. And Sony is late to the game.