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SONY Introduces INZONE to Tap Growing Demand for Gaming Gear

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Sony Group Corporation (SONY - Free Report) has launched a new gaming gear brand - INZONE - specially designed for hardcore PC and PlayStation gamers.

Sony plans to tap the growing market for gaming gear, which is gaining from the increasing reach of major sports tournaments like the PGL DOTA2 Arlington Major 2022 and the VALORANT Champions Tour.

INZONE features two gaming monitors - the INZONE M9 and INZONE M3 - priced at $899.99 and $529.99, respectively.

The INZONE M9 features a 4K resolution and DisplayHDR 600 certification with a 144Hz refresh rate, whereas the INZONE M3 has a full HD resolution and DisplayHDR 400 certification with a 240Hz refresh rate.

The INZONE M9 monitor provides Auto HDR Tone Mapping for PlayStation 5 consoles to optimize HDR settings and allows for an automatic switch between cinema or gaming mode.

Both monitors are NVIDIA G-SYNC compatible with 1ms Gray to Gray response time and support variable refresh rate in HDMI 2.1 standard. The monitors offer low-depth tripod and cable management to optimize desk space for peripherals.

INZONE product line also features three wireless gaming headsets - the INZONE H9, INZONE H7 and INZONE H3 - which are priced at $299.99, $229.99 and $99.99, respectively.

The gaming headsets have 360 Spatial Sound to provide an immersive experience and comfortable headbands and ear pads for long hours of gaming.

The distinctive features of the INZONE H9 are noise cancellation and ambient sound mode. Users can game up to an hour with just a 10-minute quick charge, per company estimates.

The packaging material used for the headset is plastic-free, recycled materials and non-woven cellulose.

The INZONE monitors and headsets can be customized by the users per their needs through the INZONE Hub PC software.

Previously, Sony had made an investment of approximately $1 billion in Epic Games through its wholly-owned subsidiary, Sony Corporation of America, to expand its foothold in the gaming space.

In fiscal 2021, Game & Network Services segment revenues were up 3%, driven by hardware sales. Sony plans to improve sales in this segment through collaboration and product launches.

It currently has a Zacks Rank #3 (Hold). The stock has lost 14.5% in the past year compared with the industry’s fall of 17.9%.

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Stocks to Consider

Some better-ranked stocks from the broader technology sector are Nexstar Media Group (NXST - Free Report) , Gray Television (GTN - Free Report) and Broadcom (AVGO - Free Report) . Nexstar Media Group and Gray Television sport a Zacks Rank #1 (Strong Buy) while Broadcom carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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Nexstar earnings beat the Zacks Consensus Estimate all last four quarters, with the average being 19.6%. Shares of Nexstar have jumped 12.5% in the past year.

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Gray earnings beat the Zacks Consensus Estimate all last four quarters, the average being 37.5%. Shares of Gray have declined 25.8% in the past year.

The Zacks Consensus Estimate for Broadcom’s fiscal 2022 earnings is pegged at $36.96 per share, up 3.6% in the past 60 days. AVGO’s long-term earnings growth rate is pegged at 15.6%.

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