Sony cuts dev spend on PS4

Sony will spend less developing its next home console than it did with the PS3.

The company invested heavily in its own semi conductor facilities for the PS3 but says this kind of spending won’t happen with its next console, reports Andriasang.

Speaking at an investors briefing, CFO Masaru Kato said: It is no longer thinkable to have a huge initial financial investment like that of the PS3.”

The news comes following the Japanese format holder’s announcement it is working on a new console. Yesterday it announced a year-on-year increase in sales and profits for its games division.

Sony has said it is not yet ready to discuss when it will be revealing its next major home console.

It has apparently made cuts to the tech inside its upcoming NGP handheld console.

Meanwhile, Nintendo will reveal its successor to the Wii at E3 next month. Microsoft has not announced it is working on a new console, but it did place job ads looking for senior hardware designers earlier this year.