Sony quarterly report reveals strong PS5 sales, mobile phones in decline

Sony published its quarterly report between the months of April and June, which is Q1 in the company's fiscal year. Overall sales were up 33% thanks to a significant increase in the game and network services, music, imaging and financial services business.

The company did not reveal the exact number of shipped consoles in the report. It simply said the Game & Network Services grew 27% on a yearly basis, and sales are expected to continue their rise in the following months.

Similarly, we do not know how many Xperia smartphones were sold between April and June, but the Entertainment, Technology & Services segment revealed a 12% decline YoY.

The forecast for the remainder of the year does not look promising for certain Sony divisions. The Pictures division is heavily affected by the strikes of the Writers Guild of America and the Screen Actors Guild, which will postpone the launch and development of movie and TV titles until the issue is resolved in the United States. The imaging business is also on a downward trend. The decline in smartphone sales across the world is affecting Sony - one of the major suppliers of camera sensors.

The game division is where the money is expected to come from. Revenue forecast for the whole year, ending on March 31, 2024, was increased to 6.1% due to higher-than-expected sales of titles, including non-first-party games like Spider-Man 2, Assassin's Creed Mirage, as well as the Cyberpunk 2077: Phantom Liberty Expansion.

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