Sony unveiled a prototype hardware for the virtual reality headset it is working on for the PlayStation 4 which it calls "Project Morpheus," TechCrunch reported.

In what seemed like an indication of the dominance of Sony's PlayStation 4 over Microsoft's XBox One, the video game console of the Japanese company sold 6 million units globally in less than four months, VentureBeat reported.

Citing a source, The Wall Street Journal blog Digits reported that embattled Japanese technology giant Sony has plans of selling its former headquarters in Tokyo, Japan.

Sony will shut down two-thirds of its retail outlets located across the US, with 11 out of the 31 stores near major markets to remain open, as part of its move to offload unprofitable units and reduce liabilities.

Sony's wearable technology called the SmartBand SWR10 which was first introduced at the CES last month will finally be available in 60 markets in March, TechCrunch reported.

Tokyo, Japan-based electronics giant Sony surpassed its sales target for the PlayStation 4 by selling 5.3 million units worldwide just three months after the latest game console went on sale.

Gartner, a research group, predicted that over 1 billion smartphones and tablet computers installed with the Android operating system of Google will reach customers in 2014.

China's State Council has suspended the ban the government had put in place for 14 years which barred the selling of foreign video game consoles, potentially opening doors for technology firms to enter the Chinese video game market, Reuters reported.

Chicago-based media firm Tribune has entered an agreement to purchase Gracenote, the California-based music data unit of Japanese conglomerate Sony in a deal valued at $170 million, according to a statement by Tribune.

With the midnight release of the Xbox One, the console war has finally began. Sony's Playstation 4 was released last week and now consumers would be able to tell and decide which one system would rule their living rooms.