Sony sees slumping revenues despite strong PS5 demand

Michail, 09 November 2023

Sony Group published its financial report for the period ending on September 30 and its operating profit was down 29% compared to the same time last year. Sony reported JPY 263 billion ($1.74 billion) in profits as the company saw disappointing performance across its image sensor and chip divisions.

Quarterly revenues stood at JPY 2.8 trillion ($18.5 billion) which represents an 8% increase compared to the values for 2022. Chip profits are down by 37% due to higher expenses and slumping imaging sensor sales while the Entertainment, Technology and Services segment is also down by 9% YoY.

Sony sees slumping revenues despite strong PS5 demand

On a more positive note, Sony shipped 4.9 million PS5 units for the quarter which is 1.6 million more consoles compared to a year ago. For those keeping count, Sony has now shipped over 46.6 million PS5 units since the console’s launch in 2020. In addition, the new Spider-Man 2 game sold an impressive 5 million units. Sony has a sales target of shipping 25 million PS5 consoles by this year’s end which leaves 16.8 million units for the remaining three months.

Sony did launch a redesigned PS5 Slim last month just in time for the holiday season. Sony’s yearly total sales forecast is now up to JPY 12.4 trillion ($82.1 billion) with expected strong sales for its video game, music and imaging solutions businesses.



Reader comments

  • Anonymous
  • 14 Nov 2023
  • 70d

Would you be responsible if it was a massive failure like the PS Vita?

  • Osiris
  • 13 Nov 2023
  • JhV

Agree, they are dead in the water with this kind of bussiness

  • SD870
  • 12 Nov 2023
  • CbE

Agreed. Its high time now that handheld PC are giving console experience and switch is a Monopoly in handheld consoles, Sony can jump in and bring some competition. But seems its other way around, Sony launches its games in windows platform, and wi...

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