Sony developing handheld console for PS5 games, Bloomberg says

Sony (SONY) is in the early stages of creating a portable gaming console that would play its PlayStation 5 titles on the go, Bloomberg’s Debby Wu and Takashi Mochizuki report. The handheld would be designed to expand the company’s reach and compete with Japanese rival Nintendo (NTDOY) for the portable gaming market, the authors say, citing people familiar with the product’s development. It would also counter any possible mobile device from Microsoft (MSFT), which is working on handheld prototypes as well, the authors say, noting the Sony device is likely years away from launch.