Strong demand for PS5 fails to boost Sony's revenues

Sony Reports Decreased Profits, Despite Strong PS5 Demand

Sony Group recently released its financial report for the period ending on September 30, revealing a 29% decline in operating profit compared to the previous year. The company reported £1.74 billion in profits, citing disappointing performance in its image sensor and chip divisions.

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While quarterly revenues saw an 8% increase, reaching £18.5 billion, chip profits experienced a significant 37% decrease due to higher expenses and declining sales of imaging sensors. Additionally, Sony's Entertainment, Technology, and Services segment saw a 9% decrease year-on-year.

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Strong PlayStation 5 Performance

On a positive note, Sony shipped 4.9 million PS5 units during the quarter, a notable increase of 1.6 million consoles compared to the same period last year. Since its launch in 2020, Sony has shipped over 46.6 million PS5 units. The highly anticipated Spider-Man 2 game also achieved impressive sales, reaching 5 million units sold. Sony aims to ship a total of 25 million PS5 consoles by the end of this year, leaving 16.8 million units to be shipped in the next three months.

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Last month, Sony introduced the redesigned PS5 Slim, just in time for the holiday season. With expectations of strong sales in its video game, music, and imaging solutions businesses, Sony's yearly total sales forecast has now increased to £82.1 billion.

If you want to learn more, you can visit Sony's official website.