Sony Says Strong Electronics Sales Offset Fall in Gaming Profit in Q2, Claims 13.4 Million PS5 Units Sold

Sony aims to sell 14.8 million PlayStation 5 gaming consoles this financial year.

By Reuters | Updated: 28 October 2021 13:44 IST

Sony Says Strong Electronics Sales Offset Fall in Gaming Profit in Q2, Claims 13.4 Million PS5 Units Sold

Photo Credit: Akhil Arora/ Gadgets 360

Sony says it has sold 3.3 million units of PS5 in Q2

Highlights

Sony reported profit of JPY 318.5 billion (roughly Rs. 20,970 crore)
TSMC plans to build a chip plant in Japan
Sony is enmeshed in a global battle for consumer attention

Sony on Thursday reported a 1 percent rise in operating profit for its second quarter, beating estimates, as a stronger performance in its electronics business offset a fall in gaming profit. The Japanese tech giant says that it has sold over 13 million units of PlayStation 5.

Sony reported profit of JPY 318.5 billion (roughly Rs. 20,970 crore) for July-September. That compared with the JPY 222 billion (roughly Rs. 14,620 crore) average of six analyst estimates compiled by Refinitiv.

Sony, a conglomerate spanning entertainment, sensors, and financial services, switched to IFRS accounting standards from US GAAP in the current financial year.

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Sony aims to sell 14.8 million of its PlayStation 5 gaming console this financial year — a target that takes into account the global semiconductor shortage.

The company said in its latest earnings release that 3.3 million units of PS5 in fiscal Q2, notably higher than the 2.2 million units sold last quarter. Total sales of PS5 now stands at 13.4 million units.

To meet long-term demand, Taiwan Semiconductor Manufacturing Co plans to build a chip plant in Japan. Sony is considering being a partner in the factory, Nikkei reported earlier this month.

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Across its business, Sony is enmeshed in a global battle for consumer attention as entertainment giants look beyond the United States for growth and mine non-English-language creators for content.

In a blow to Sony's pop culture credentials, South Korea's top cultural export, boy band BTS, said last week it has dropped its Columbia Records label for a deal with Universal Music Group NV.

Other challenges include an investor attempt to oust the management of India's Zee Entertainment Enterprises, casting a shadow over merger talks with Sony's local unit.

© Thomson Reuters 2021

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Sony PlayStation 5

REVIEW
KEY SPECS
NEWS

Good
DualSense is great
Very powerful
Reduced loading times
Friendlier storage expansion
Capable of 8K / 120fps
4K Blu-ray player (finally)

Bad
Expensive
Lack of truly next-gen exclusives
Not a generation leap over PS4 Pro at launch
Game prices now go up to Rs. 5,000
Missing next-gen upgrades for PS4 games
No "Quick Resume", as on Xbox Series X
Limited backward compatibility
No support for Dolby Vision, Dolby Atmos
SSD storage amount is restrictive

Read detailed Sony PlayStation 5 review

HDD 825GB PCie Gen 4 NVMe SSD

Processor Custom 8-core AMD Zen 2 CPU @ 3.5GHz with SMT

Graphics Custom AMD RDNA 2 GPU 36 CUs @ 2.23GHz (variable frequency)

RAM 16GB GDDR6

USB 4

Weight 4.5kg

Ethernet Gigabit

More Sony Gaming Consoles

Sony PlayStation 5 Digital Edition

KEY SPECS
NEWS

HDD 825GB PCIe Gen 4 NVMe SSD

Processor Custom 8-core AMD Zen 2 CPU @ 3.5GHz with SMT

Graphics Custom AMD RDNA 2 GPU 36 CUs @ 2.23GHz

RAM 16GB GDDR6

More Sony Gaming Consoles

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