The company is already an approved publisher on the PlayStation and PlayStation2 platforms.
"We are pleased to expand our relationship with Sony to provide content for the PSP platform. They are a great organization and we will give them our full support." remarked Sirus Ahmadi, President and CEO of Conspiracy Entertainment. "Portable gaming represents a significant opportunity for Conspiracy Entertainment. We are excited to be involved at such an early stage with the two leading platform providers in this growing market". In December 2004 the company announced a similar relationship with Nintendo for the DS platform.
Portable gaming is expected to be one of the fastest growing segments of the gaming industry. According to market research firm Jupiter Research, the number of portable game players sold in the U.S. will grow from 23 million in 2003 to 43 million in 2009. Revenues from portable gaming devices and the games themselves are expected to increase from $1.6 billion in 2003 to $2.7 billion in 2009.
"This announcement is evidence of our commitment to stay at the forefront of the gaming industry" said Keith Tanaka, CFO for Conspiracy Entertainment. "The initial launch of the Sony PSP was well received in Japan and there is no reason to believe that it won't succeed just as well in North America". Sony, touting the PSP as the "21st Century Walkman", shipped over 800,000 units in Japan within the first five weeks following the product launch. The company announced that it will produce over 1,000,000 units for the North American launch, now scheduled for March 24th.
"PSP is not just a gaming device, it's a complete entertainment center that fits in your coat pocket. You can play games, watch movies or listen to music. It also has support for wireless gaming. We look forward to providing PSP users with a great gaming experience." commented David Hoffman, Executive Producer for Conspiracy Entertainment.