Google announced on Tuesday it was entering the video game industry with a streaming platform, Stadia.
Shares of Japanese video gaming heavyweights Nintendo and Sony tumbled in Wednesday morning trade following Google's unveiling on Tuesday of its game streaming platform.
On Tuesday stateside, Google showed off its new game streaming platform, Stadia, which it claimed would allow people to play high-end games without shelling out hundreds of dollars for consoles or computers. Instead, all of the legwork to render those games will be handled by Google's cloud, the company said.
The console gaming sector"remains a large and significant part" of the overall gaming market, Piers Harding-Rolls, director of research and analysis director of games at IHS Markit, said in a note following Stadia's unveiling.
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