Business News

Sony has better PS5 sales as its annual earnings record

Sony expects sales of the PlayStation 5 game console to surpass the much-anticipated previous system, although it warns that the global chip could last for the next 12 months.

The Japanese team’s goal of the new console was to reach a record annual pandemic-induced game boom, even as the U.S.-China trade dispute caused great success in its sensor business.

On Wednesday, Sony also said it would repurchase 200 200 billion ($ 1.8 billion) from its own shares, which are trading near a 20-year high.

Since its launch in November, Sony has sold 7.8 million PS5 consoles, the latest system sold slightly more than the PS4 units sold in the same period after its release in 2013. For the new event, which ends in March 2022, the company said it would aim to sell more than 14.8 million PS4s sold on the PS5. the second year after marketing.

“Supply continues to be unable to keep up with very strong PS5 demand,” Hiroki Totoki, Sony’s chief financial officer, said in a network statement on Wednesday. “We expect the supply limits targeted at semiconductors to continue in this current year.”

But after a year of great success, Sony is gaining weaker profits in many of its core businesses, including games, music and image sensors.

In the 12 months to March 2022, the group expects its net profit to fall by 44 percent to 6 660 million due to increased tax spending. According to S&P Global Market Intelligence, it was below analysts ’forecast of $ 743 billion. Revenue is expected to rise by 8% to 9.7.

In the January-March quarter, there were some signs of a slowdown in the gaming division, with digital software sales down 3.7% from a year earlier, despite strong demand for PS5 hardware.

“There is no doubt that the demand for PS5 hardware is very high, but it is still unclear whether the demand for the software will be maintained,” said game analyst Hideki Yasuda of the Ace Research Institute.

Sony expects its operating business profit to fall 5 percent to 325 billion euros this year, but Yasuda said the decline is smaller than expected. He noted that freight costs are lower as the company ships more consoles by sea, rather than more expensive airfare.

Beyond gaming, its image sensor operating profit fell 41 percent in the first three months of 2020 after CMOS sensors sold to Huawei, Apple’s second-largest customer to Apple. U.S. sanctions Against the Chinese telecommunications team.

Totoki said the company expects Huawei to recover the lost volume caused by its success from other customers in the current fiscal year, and profits are expected to recover from April 2022.

For the January-March quarter, Sony said its net profit grew 8.5 times 107 billion yen earlier, while revenue rose 27 percent to 2.2 billion yen.


Source link

Related Articles

Back to top button