iWorld
Citigroup picks up 6.3 % stake in VSNL
MUMBAI: The telecom sector is attracting investments not only in the global market but also in India. Citigroup Inc. has acquired a 6.3 per cent stake in telecom service provider Videsh Sanchar Nigam Ltd (VSNL).
Disclosing this in a filing with the Securities and Exchange Commission, Citigroup has said that it now owns 18.61 million shares of VSNL. The The stake was bought through American Depositary Receipts listed on the New York Stock Exchange.
VSNL expects to see volume growth in voice and data business. The company recently bought out the internet assets of 7 Star, a Mumbai-based cable operator. VSNL also acquired for Rs 750 million Direct Internet Ltd and its wholly owned subsidiary Primus Telecommunications India Ltd to strengthen its broadband presence in the Small and Medium Enterprises (SME) segment.
The phone market is expanding rapidly in India. This has attracted global giants like Vodafone Group which bought a 10 per cent stake in Bharti Tele-Ventures.
Gaming
Sony raises PS5 prices for second time in under a year
US disc edition jumps $100 to $649.99 as memory costs surge.
MUMBAI: Sony just hit the pause button on affordable gaming because when memory prices skyrocket, even the Playstation has to pay the premium. Sony has announced its second price increase for the Playstation 5 range in less than a year, citing pressures in the global economic landscape and a sharp rise in memory component costs driven by AI demand.
In the US, the PS5 disc edition will rise from $549.99 to $649.99, a $100 hike while the digital edition increases to $599.99. The more powerful PS5 Pro will jump $150 to $899.99. The Playstation Portal remote player will also rise by $50 to $249.99. The new prices take effect on 2 April 2026.
Similar increases have been applied in the UK (£90 per model), Europe and Japan. Sony last raised PS5 prices in the US in August 2025.
“We know that price changes impact our community, and after careful evaluation, we found this was a necessary step to ensure we can continue delivering innovative, high-quality gaming experiences to players worldwide,” Sony said in a blog post.
The hikes come amid an unprecedented surge in memory prices, as manufacturers prioritise supply for AI data centres. Analysts say Sony had likely secured price protections for components that have now expired, forcing the company to protect its hardware margins.
Ampere Analysis research director of games Piers Harding-Rolls told CNBC that further increases from Microsoft and Nintendo would not be surprising, though Nintendo may hesitate to raise the price of its recently launched Switch 2 while establishing the new platform.
The increases arrive eight months before the highly anticipated release of GTA 6, which is expected to drive strong console sales. However, early reactions online have been a mix of disappointment and resignation, with growing concern that premium gaming is increasingly becoming a hobby for higher-income players.
In a sector already grappling with tariffs, inflation and component shortages, Sony’s move underscores a tough reality: even the most popular consoles are not immune to the rising cost of keeping up with the latest technology.
