PlayStation 2 Axed … PS4 on the Way?

12 years of success marked the game system's run

   

ps2 photo 300x286 PlayStation 2 Axed … PS4 on the Way?Sony (NYSE:SNE) has confirmed reports that it is ceasing production of the PlayStation 2 game console.

Rumors of the old console’s demise leaked earlier this week on a Japanese language website, The Inquirer reports. But now the electronics giant has confirmed that production is ending on the 12-year-old system.

In an email sent to journalists, a Sony spokesman said, “Due to PlayStation 2 now being over 12 years old, we have decided to stop future production of the console and focus on our newer and more popular platforms, PS3, PS Move and PS Vita. We are very proud of what we have achieved with PS2.”

The PS2 was technically replaced six years ago by Sony’s PlayStation 3 console. But that didn’t stop the older system from racking up more than 150 million units in sales during its time on the market. The 12 years the PS2 was for sale is a record for game console longevity.

With the closing of PS2 era, rumors have been swirling about whether Sony will announce the upcoming PlayStation 4. The firm is inviting industry journalists to an event called “Destination PlayStation” in late February in which it is expected to make the announcement about its next console.

Whatever Sony does with its new console, it will have to compete with the Nintendo’s (PINK:NTDOY) already released Wii U and Microsoft’s (NASDAQ:MSFT) upcoming Xbox 720.

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Article printed from InvestorPlace Media, http://investorplace.com/2013/01/playstation-2-axed-ps4-on-the-way/.

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