Sony's PlayStation 5 No Longer Selling at a Loss
Record Operating Revenue and Profit Forecast
Sony's chip division and PlayStation 5 console contribute to financial success.
Sony has announced record annual operating revenue of 11.8 trillion yen (approximately $106 billion), driven by the success of its chip division and the PlayStation 5 console.
The PlayStation 5, which was launched in November 2020, has reportedly turned a profit for the first time since its release. Sony initially sold the console at a loss, but has since been able to increase the price due to high demand and a shortage of competing consoles.
In addition to the success of the PlayStation 5, Sony's chip division has also been a major contributor to the company's financial success. The division produces semiconductors for a wide range of devices, including smartphones, computers, and automotive systems. The global chip shortage has led to increased demand for Sony's semiconductors, resulting in higher profits.
As a result of the strong financial performance, Sony has raised its operating profit forecast for the fiscal year ending March 2023 to 11.8 trillion yen, up from the previous estimate of 11.6 trillion yen.
Forbes
Cnbc
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