Sony Set to Miss PS5 Sales Target for FY 2023, Says Marvel's Spider-Man 2 Sold 10 Million Copies
Japan's Sony slashed the full-year sales forecast for its PlayStation 5 console on Wednesday and said it plans to list its financial business next year as it focuses on entertainment and image sensors.
Sony cut its PS5 sales forecast for the year ending March to 21 million units, from 25 million units previously, after weaker-than-expected sales over the year-end shopping season.
The company said it expects a gradual decline in unit sales from the next financial year and that it does not plan to release any major franchise titles in the coming fiscal year.
Sony, which in 2023 said it was examining a partial spin-off of its financial business, said it plans to list Sony Financial Group in October 2025 and retain a stake of just under 20 percent.
The company's operating profit in the October-December quarter jumped 10 percent to JPY 463.3 billion ($3.08 billion, or roughly Rs. 25,568 crore), beating an average estimate of JPY 428 billion (roughly Rs. 23,663 crore) from 11 analysts polled by LSEG, as strong performance by the financial, movies and music businesses offset weakness in games.
Known as the inventor of the Walkman, Sony has transformed from an electronics manufacturer 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 shopping period, compared with 7.1 million units a year earlier.
Operating profit at the games business fell by around a quarter, hit by higher losses from hardware due to promotions and lower sales of first-party titles.
"Sony tried hard with promotions, bundles and discount but the sales target was too ambitious from the get-go," said Serkan Toto, founder of consultancy Kantan Games.
"In the end they will probably land closer to 22-23 million units," Toto added.
Monthly active users on the PlayStation network, a measure of engagement with the platform, reached 123 million units at the end of the quarter from 107 million
Read more on gadgets.ndtv.com
