February 14-Sony, a major player in entertainment and technology, has adjusted its full-year sales forecast for the PlayStation 5 (PS5) console, reducing it to 21 million units from the initial projection of 25 million. The revision follows weaker-than-expected sales during the year-end shopping season. Sony anticipates a gradual decline in unit sales from the upcoming financial year and has no plans for major franchise titles in the next fiscal year.
Additionally, Sony revealed plans to list its financial business, Sony Financial Group, in October 2025. The company aims to maintain a stake of just under 20% in the financial unit. In the October-December quarter, Sony’s operating profit increased by 10% to 463.3 billion yen ($3.08 billion), surpassing analysts’ estimates. Strong performances in the financial, movies, and music businesses offset weaknesses in the games sector.
Despite the efforts with promotions, bundles, and discounts, Sony fell short of its ambitious sales target for the PS5. Monthly active users on the PlayStation network reached 123 million units at the quarter’s end. Sony reported the sale of 10 million copies of “Marvel’s Spider-Man 2,” released on October 20, and introduced a slim version of the console in November to boost sales.
Sony President Hiroki Totoki expressed optimism about utilizing momentum, especially if big third-party titles grow. The company’s chips division saw an 18% profit increase due to higher sales. Sony is navigating shifts in its strategy, recently canceling a planned $10 billion merger of its Indian business with Zee Entertainment.
Shares of Sony closed down 0.5% ahead of the earnings announcement, having gained 9% year-to-date. The company has transformed from an electronics manufacturer into an entertainment and tech giant, encompassing movies, music, games, and chips.
+ There are no comments
Add yours