The decision will also see the shutdown of Neon Koi, a mobile game studio. Bloomberg reports that the closures will affect approximately 210 jobs.

PlayStation studio business group CEO Hermen Hulst said: “We have spent considerable time these past few months exploring all our options. After much thought, we have determined the best path forward is to permanently sunset the game and close the studio."

Hulst acknowledged that Concord, which debuted on August 23rd on both PS5 and PC, failed to meet Sony's targets. The game was taken offline on 6 September 6 after poor sales, which were estimated at under 25,000 units, with an all-time peak of just 697 players on Steam – even lower than the launch peak of The Lord of the Rings: Gollum.

Sony intends to "take the lessons learned from Concord and continue to advance our live service capabilities to deliver future growth in this area," added Hulst.

Neon Koi, a mobile game development studio, is also shutting down despite Hulst's assertion that "mobile remains a priority growth area." Sony acquired the German-Finnish studio, previously known as Savage Game Studios, in 2022. The team had been working on an unannounced triple-A mobile live service action game.

"With this re-focused approach, Neon Koi will close, and its mobile action game will not be moving forward," Hulst said. "Both decisions were given serious thought, and ultimately, we feel they are the right ones to strengthen the organisation."