Shares in Japanese console makers Nintendo and Sony dropped in morning trading on Wednesday as investors reacted to Google’s announcement overnight that it would push into the $135bn gaming industry with a cloud-based offering.
Nintendo and Sony shares were down nearly 4 per cent in early trading. On Tuesday, Google announced the launch of Stadia, which will stream games directly from Google’s servers to computers, televisions and mobile devices, bypassing the need for dedicated console hardware.
The latest moves leave shares in Nintendo and Sony down 39 per cent and 30 per cent respectively from their 2018 peak. Share price falls in recent months have sparked debate over the future of console gaming.
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