Sony investment surge targets 1 bln subscribers

Sony is enjoying booming demand for its PlayStation 5 games console.

But these days it's thinking about content and services as much as hardware.

On Wednesday (May 26) the Japanese firm said that over the next three years it would invest 2 trillion yen.

That's almost $18.4 billion.

It says the money will go on strategic investments, including a push to gain subscribers to its gaming and entertainment services.

Sony wants to get 1 billion people connected to those services, up from 160 million now.

Hardware helps, however, with the PlayStation driving people to its online game platforms.

Over the current business year Sony aims to ship 14.8 million PS5 consoles.

But the global chip shortage may get in the way.

Sony says it's struggling to keep up with demand for the PlayStation as semiconductors continue to run short.