Sony targeted bumper PS5 sales as an annual profit hit record

While Sony warns that the global chip crank will continue for the next 12 months, sales of its PlayStation 5 games console this year will exceed its much-anticipated predecessor system.

The Japanese group’s target for the new console came when the epidemic-driven gaming boom hit its annual profit record, even hitting the image sensor business hard due to the US-China trade dispute.

On Wednesday, Sony further said it would buy up to ¥ 200bn ($ 1.8bn) of its own shares, trading near a 20-year high.

Sony has sold 7.8 million since its launch in November PS5 consoles, Slightly higher than the PS4 units sold in the same period since the next system was released in 2013. For the new fiscal year, which ends in March 2022, the company said it will sell more PS5s than it sold during the 14.8m PS4 after the opening of the second year.

In an online briefing on Wednesday, Sony’s chief financial officer Hiroki Totoki said, “It still continues that supplies for the PS5 have not been able to sustain very strong demand.” “We expect that the barrier to supply semiconductor-centric supply for devices will continue until the current fiscal year.”

But following the blockbuster year, Sony has been joking about weak profits in several businesses on its core, including games, music and image sensors.

In the 12 months to March 2022, the group expects its net profit to fall 44 percent to ¥ 660 billion due to rising tax costs. This is below analysts’ forecast of ¥ 743bn according to S&P Global Market Intelligence. Revenue is expected to grow 8 percent from 9.7tn

Despite strong demand for the PS5 hardware, the gaming segment saw some signs of a 3.7 percent decline in digital sales of the software in the gaming segment in the January-March quarter compared to a year ago.

“There is no doubt that there is a strong demand for PS5 hardware, but it is not yet clear whether the demand for software is maintained,” said Hideki Yasuda, a gaming analyst at the S Research Institute.

Sony expects operating profit for its gaming business to drop from 5 percent to 5 325 billion this year, but Yasuda said the decline is lower than expected. He hinted at lowering fares as the company carries more consoles by sea than Price Air Freight.

Outside of games, Huawei, the second-largest customer after Apple, sold its CMOS sensor to its image censor’s operating profit fell 41 percent in the first three months of 2020. US sanctions Against Chinese Telecom Group.

Totoki said the company expects compensation from other customers for the current fiscal year at the rate of losses caused by Huawei’s injury and is expected to recover profits from April 2022.

In the January-March quarter, Sony said its net profit rose 8.5 times to 7 107 billion from a year earlier, while revenue rose 27 percent to ২ 2.2tn.

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