202210 May

Sony aims to sell 18 million PS5 consoles this year amid China lockdown risk

Summary

TOKYO, May 10 (Reuters) - Sony Group Corp (6758.T) on Tuesday said it planned to sell 18 million PlayStation 5 consoles this business year as robust game sales helped it more than double fourth-quarter operating profit. The Japanese company, however, warned that it could be forced to revise that production target if any new lockdowns in China to control the spread of COVID-19 make component procurement difficult. Last business year it sold 11.5 million units as it struggled like other consumer electronic companies with COVID 19 supply chain disruptions. In a shift away from traditional hardware such as TVs, the company is also expanding its software business, announcing in February the acquisition of Bungle Inc, the creator of the "Halo" videogame for $3.6 billion. This business year Sony expects profits from the unit to fall 12% as it invests in game development and spends on acquisitions.

Source: Reuters

Classifications