Sony misses PS5 sales target for fiscal 2023, Marvel’s Spider-Man 2 sells 10 million copies

of Japan Sony on Wednesday cut its full-year sales forecast for its PlayStation 5 console and said it plans to list its financial business next year as it focuses on entertainment and image sensors.

Sonny cut him off. PS5 Sales forecast for the year ended March rose to 21 million units, from 25 million units previously, following weaker-than-expected sales in the year-end shopping season.

The company said it expects a gradual decline in unit sales from next financial year and does not plan to release any major franchise titles in the coming financial year.

Sony, which said in 2023 it was examining a partial spin-off of its financial business, said it plans to list Sony Financial Group in October 2025 and retain just under 20 percent. .

The company’s operating profit rose 10 percent to JPY 463.3 billion ($3.08 billion, or about Rs. 25,568 crore) in the October-December quarter, beating the average estimate of JPY 428 billion (about Rs. 23,663 crore) by 11 pollsters. Left behind. Strong performance in financials, movies and music businesses offset weakness in games.

Known as the inventor of the Walkman, Sony has transformed from an electronics company into an entertainment and tech behemoth spanning movies, music, games and chips.

Sony sold 8.2 million. PlayStation 5 Units in the third quarter, which spans the year-end buying period, compared with 7.1 million units a year ago.

Operating profit in the games business fell by about a quarter, driven by lower sales of promotions and first-party titles than hardware.

“Sony tried hard with promotions, bundles and discounts but the sales target was too enthusiastic from the get-go,” said Serkan Toto, founder of Kantan Games consultancy.

“Eventually they will probably land around 22-23 million units,” Tuto added.

Monthly active users PlayStation NetworkA measure of engagement with the platform, it reached 123 million units at the end of the quarter from 107 million three months ago.

Sony said it sold 10 million copies. Marvel’s Spider-Man 2which launched on October 20, the company also introduced a slimmer version of the console from November to boost sales.

Nintendo Last week it increased to its full year. Switch on. A forecast of 15.5 million units, up from 15 million units previously, as the Kyoto-based company extended the lifecycle of the aging console.

Xbox the maker Microsoft Due to Share updates The company will bring its titles to other platforms on Thursday amid speculation over its games business.

“If major third-party titles continue to grow, that will be a positive factor and we hope to build on that momentum,” Sony president Hiroki Totoki said at a news briefing.

Sony, the leading maker of image sensors for smartphones, said profit rose 18 percent on higher sales in its chips division.

TSMC said last week it would build a second fab in Japan in partnership with companies including Sony in a vote of confidence for the country’s leading contract chipmaker.

Last month, Sony scrapped plans for a $10 billion (about Rs 83,000 crore) merger of its Indian business with Zee Entertainment that would have created a TV juggernaut.

Totoki said that the Indian market has great potential for growth on a long-term basis.

“If we find another opportunity to replace this type of project, we will actively look at it and we also need to improve our organic growth strategy,” Totoki said.

Sony shares closed 0.5 percent ahead of earnings. This year they have gained 9%.

© Thomson Reuters 2024

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