Annual profits

Sony targets record PS5 sales as annual profits hit record

Sony is hoping that sales of its PlayStation 5 game console will surpass those of its hugely popular predecessor system this year, despite the warning that the global chip tightening is expected to persist for the next 12 months.

The Japanese group’s goal for the new console came as the pandemic-triggered gaming boom took its annual profits to an all-time high, even as the US-China trade dispute took a heavy toll on its sensors business. of images.

Sony also announced on Wednesday that it would repurchase up to 200 billion yen (1.5 billion euros) of its own shares, which are trading near a 20-year high.

Since its launch in November, Sony has sold 7.8 million PS5 consoles, slightly more than the PS4 units sold in the same period following the release of the latter system in 2013. For the new fiscal year, which ends in March 2022, the company said it will aim to sell more PS5s than the 14.8 million PS4s sold in the second year after launch.

“It continues to be the case that the supplies have not been able to meet the very high demand for PS5,” Hiroki Totoki, Sony’s chief financial officer, said in an online briefing Wednesday. “We expect the semiconductor-focused supply constraints for devices to continue into the current fiscal year.”

Blockbuster

But after a successful year, Sony is bracing for lower profits in many of its flagship businesses, including games, music and image sensors.

For the 12 months to March 2022, the group expects its net profit to fall 44% to 660 billion yen due to increased tax charges. This is lower than analysts’ forecast of 743 billion yen, according to S&P Global Market Intelligence. Revenue is expected to increase 8% to 9.7 trillion yen. – Copyright The Financial Times Limited 2021


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