Sony drops PlayStation 5 sales forecast again due to chip shortage
Because of that, Sony reported 813.3 billion yen in revenue for its gaming division, down from 883.2 billion yen over the same quarter last year. However, operating profit rose 12.1 percent to $810 million, because Sony actually loses money on each PS5 console sold. that people want to buy PS5 consoles, but partners can't supply components due to the ongoing chip shortage.
Sony lowered its forecast for PS5 shipments for the fiscal year to 11.5 million units, down from 14.8 million. As such, it dropped its full year revenue estimate for its Game & Network Services division by 170 million yen . At the same time, it expects 6 percent more profit despite lower game sales, thanks to the aforementioned unprofitable consoles.
Sony's gaming division is its biggest money maker, accounting for around a quarter of its overall revenue and profits this quarter. However, its imaging division also fared well in fiscal Q3, with a 22 percent increase in revenue year-over-year, thanks to sales of its premium smartphone image sensors. Its movie division, meanwhile, saw a large jump in revenue to $4.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sony is buying 'Destiny' studio Bungie | EngadgetSony is buying 'Destiny' studio Bungie
Read more »
The Morning After: Sony is buying the studio behind ‘Destiny’ for $3.6 billion | Engadget
Read more »
Sony WH-1000XM4 review: Noise-cancelling headphones you can live inSmall refinements and big sound keep the Sony WH-1000XM4 in the best wireless headphones conversation. Read more here.
Read more »
Sony Pictures Soars To $1.3 Billion Third-Quarter ProfitUPDATE, writethru: With a major assist from the phenomenal global box office performance of Spider-Man: No Way Home, Sony Pictures Entertainment has recorded a third-quarter profit of $1.314 billio…
Read more »
Sony buying Halo, Destiny video game maker Bungie in $3.6B dealSony is jumping into the video-game-making M&A fury.
Read more »
Sony Pictures Profits Exceed $1.3 Billion in Latest QuarterSony Pictures achieved net profits of $1.3 billion in the three months to December 2021, boosted by a return to theatrical releasing and the blockbuster performance of “Spider-Man: No Way Home.” Th…
Read more »