Sony, amongst others, halts PlayStation sales in Russia over Ukraine war

Sony is a Japanese technology business that produces a wide range of electronic items. The PlayStation video game console, which was followed by the PlayStation 2, PlayStation 3, and now the PlayStation 4, is one of its most popular products.

Sony has ceased selling PlayStation systems and software in Russia, making it the latest major company to pull out due to the Ukraine conflict.

Sony's video game division announced in a statement on Wednesday that all software and hardware shipments, as well as the launch of the new racing game Gran Turismo 7(, the hit racing game that has grossed more than $4 billion worldwide), have been halted in the country. In Russia, the PlayStation Store will also be unavailable.

Sony joins a slew of other computer and gaming companies that have halted operations in Russia, including Microsoft, which said on March 4 that it will stop selling in the nation.

"To support the victims of this tragedy, Sony Group Corporation announced a $2 million commitment to the United Nations High Commissioner for Refugees (UNHCR) and the international NGO Save the Children," the company said.

Mykhailo Fedorov, Ukraine's Deputy Prime Minister, called on the game sector to stop doing business in Russia in the early days of the Russian invasion, specifically mentioning Microsoft and Sony. Fedorov also encouraged the esports community to ban all Russian competitors and cancel any upcoming events in the country. "Tanks, numerous rocket launchers, and missiles may be the best reaction to current technology in 2022," he said.

Video game businesses began making efforts to cut connections with Russia last week. Electronic Arts and CD Projekt, the creators of the sci-fi game Cyberpunk 2077, have announced that they will stop selling games and material in Russia and Belarus.

Microsoft announced on Friday that all new sales of its products and services, including Xbox games consoles, software, and subscription services, would be halted in Russia. The next day, Epic Games, the creators of Fortnite, followed suit, announcing that it was "ending commerce with Russia in our games."

Sony PlayStation stock is down 23% year to date, the stock was selling for $133.75 as it's 52 weeks high price and now it selling for $97.31 per share. Leaving Russia will hurt Russia but it will also hurt Playstation's earnings for the next quarter.