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Sony to Stop Selling PSP

10 years and $76 million sales later, Japanese giant technology company Sony Corp will stop selling its hand-held PlayStation Portable.

Besides a decline in profit due to steep competition against smartphones and other hand held devices, one other reason why the big electronics and entertainment company will pull the plug on its PSP is because they will be pushing the PlayStation Vita, which is the PSP’s successor.

According to the Tokyo-based Sony it has ended last January its shipment of the PSP to North America. Meanwhile, it will end its sales in Japan this month and later on this year it will also end its shipment in Europe.

PSP owners in Japan will get discount rates if they buy Vita as well as the downloads for the device. There is no news yet if discounts will be offered for PSP owners overseas.

The last time a sales tally was made for PSP was two years ago and the total sales of PSP was $76 million. PSP was launched back in December 2004.

Game-based machines are struggling to maintain sales status quo because of the steep competition against popular hand-held devices like smartphones and Android phones.

Sony lost $1.3 billion from PSP sales decline last fiscal year, and the company reported that it expects to still have lower sales this year.

There are analysts that claim Vita has not sold in big numbers yet. Sony has not released a global sales report on Vita and combined its report with PSP sales tallies.

Another major competition that threatens the sales of PSP is the 3DS of its rival Nintendo Co. However, it does not mean Nintendo has the upper hand in hand-held gaming devices. This company is also struggling hard against other more popular hand-held devices such as smartphones and Android phones.

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