No Result
View All Result
INDUSTRY INSIDER
About Us
  • Industry
  • Business
  • Tech
  • Bangladesh
  • World
  • Feature
  • R&D
  • Opinion
  • Magazine
  • More
Wednesday, July 9, 2025
  • Industry
  • Business
  • Tech
  • Bangladesh
  • World
  • Feature
  • R&D
  • Opinion
  • Magazine
  • More
No Result
View All Result
INDUSTRY INSIDER
No Result
View All Result
Home Business

Sony predicts PS5 sales rise and profit fall due to weak financial services

Sony predicts PS5 sales rise and profit fall due to weak financial services
by Insider Desk
May 3, 2023

Sony Group Corp said on Friday that PlayStation 5 sales would increase by six million units this fiscal year, but that profit will fall from a record high due to weaker financial services revenues offsetting gains from gaming, music, and movies.

According to Refinitiv data, the Japanese corporation anticipates operating profit to slip 3.2% to 1.17 trillion yen ($8.65 billion) in the fiscal year ending March 31, down from an analyst’s average forecast of 1.275 trillion yen, reported on Reuters.

On the other hand, the increased performance of its gaming unit will be welcomed by the entertainment and electronics behemoth, which failed to produce enough PlayStation 5 game consoles to fulfill demand during the COVID-19 epidemic due to semiconductor supply chain problems.

“We can now deliver PlayStation 5 to almost anywhere in the world without keeping our customers waiting,” Sony Group President Hiroki Totoki said during a news conference following the company’s results announcement.

Sony, which competes with Microsoft Corp (MSFT.O) and Nintendo Co Ltd (7974.T), said it anticipates selling a record 25 million PlayStation 5 (PS5) consoles this fiscal year, up from 19.1 million in the previous year and more than twice the number it sold the year before.

The company expects profit in its gaming and network section to increase by 8% to 270 billion yen this fiscal year.

Hideki Yasuda, an analyst at Toyo Securities, said slow sales of videogame software, which is more lucrative than the console side, put a shadow over the game unit.

PlayStation 5 sales more than tripled year on year to 6.3 million consoles in the most recent quarter to March, while software sales dipped 3.5%.

“When you buy new hardware, you usually buy new software as well.” “Software sales should have grown in lockstep with hardware sales,” Yasuda remarked.

Sony anticipates marginally greater earnings in its music and film sectors this year, with revenues in financial services declining by a fifth.

Sony also forecasted a 5.8 percent drop in image sensor revenues to 200 billion yen.

Overall operational profit for the three months ending March 31 declined 7.3% to 128.5 billion yen, but full-year earnings increased to an all-time high of 1.21 trillion yen.

Tags: PlayStation 5Sony
Previous Post

The World Bank approves a $150 million loan to Panama for green development

Next Post

The dollar jumped all at once now

Related Posts

Agriculture modernization efforts need a boost

by Md Asaduz Zaman
| June 5, 2025

A city of concrete, asphalt and glass

by Ar. Nayeem Bin Abedin and Ar. Shahriar Mahmud
| June 5, 2025

Case study: The Canadian model of government-funded healthcare

by Dr. Imtiaz Ahmed
| June 5, 2025

Does a tourism ban work?

by Sheikh Shabab Tawkee Rupok
| July 8, 2025

How to bounce back from failing New Year’s resolutions

by Sharmin Banu
| June 5, 2025

Environmental disclosure reshaping business norms

by Galib Nakib Rahman
| May 31, 2025

Next Post
The dollar jumped all at once now

The dollar jumped all at once now

You May Also Like


UK scrambles to revive microchip
More

BSIA welcomed national taskforce recommendations on semicon development

by Insider Desk
July 9, 2025
0

The Bangladesh Semiconductor Industry Association (BSIA) warmly welcomes and appreciates the recently published recommendations by the National Semiconductor Taskforce, constituted...

Read more
BB governor reaffirms banking sector reform, clarifies frozen accounts

Bangladesh to implement risk-based supervision for banks by 2026

July 8, 2025
Bangladesh PMI shows slower Economic contraction in August

Bangladesh’s PMI falls in June

July 8, 2025
Bangladesh’s apparel exports to US surge

Global apparel market hits $557.5 billion in 2024, Bangladesh retains second spot

July 8, 2025
Pathao launches ‘Pathao Pay’ digital wallet

Pathao launches ‘Pathao Pay’ digital wallet

July 8, 2025
Home
Industry
Business
Tech
Bangladesh
World
Feature
R&D
Videos
Magazine
About Us Subscribe
Terms & Conditions
Privacy Policy
Refund Policy
Cancellation Policy
Industry Insider is published by Tareq Ahmed Robin, Sayem Sharif, Md Mahfuz Ul Islam and Mohammad Saiful Islam. It is a quarterly magazine, comes from House B-114, Level – 03, Road – 07, DOHS, Mohakhali, Dhaka – 1206
Reach Out: [email protected]
© 2023 – All rights reserved with Industry Insider | Developed By YSI Bangla Limited  Follow us on our socials:
© 2023 – All rights reserved with Industry Insider | Developed By   Follow us on our socials:

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • All News
  • Industry
  • Business
  • Tech
  • Bangladesh
  • World
  • Feature
  • R&D
  • Opinion
  • More
  • About Us
  • E-Magazine
  • Videos
  • Subscribe