Sony posts record operating profit on great PS5 sales

Sony ended its fiscal year with the quarter closing this March on a high. It posted a record operating profit of 1.21 trillion JPY ($8.9 billion, converted), beating its own forecast. Sony forecasts sales for its next fiscal year, ending March 2024, to be around 11.5 trillion JPY - about the same as this year.

A large part of that success is thanks to outstanding PlayStation 5 sales. Sony sold record 19.1 million consoles in the fiscal year - compared to the 11.5 million sold in the previous fiscal year, which was marred by supply chain issues. Sony hopes to sell 25 million in this fiscal year (by March 2024). Sony is closing in on 40 million sales of the PlayStation 5.

In contrast, the Mobile Communications division saw its sales drop to JPY356.8 billion ($2.62 billion) - 2.5% lower than last year. The company provided no exact figure for number of phones sold, though.

Sony's gaming division reported a revenue of JPY3.64 trillion ($27.3 billion).

The other big winner for Sony was the chip division. Sony's image sensor business secured JPY212.2 billion ($1.56 billion) in revenue - up 36% year-on-year.

But, Sony expects its imaging chip business to fall 5.7% in the current fiscal year due to slowed demand, particularly from Chinese smartphone makers.

Source