Sony Reports Record Quarterly Profits Thanks to Strong PS5 Sales

Sony concluded its fiscal year with a strong quarter that ended in March, surpassing its own projection with a record operating profit of $8.9 billion. The company anticipates its sales for the upcoming fiscal year, which ends in March 2024, to be approximately $85 billion, similar to this year’s.

A significant factor in this accomplishment is the exceptional sales of PlayStation 5. Sony sold a record-breaking 19.1 million consoles in the fiscal year, a significant improvement from the 11.5 million sold in the previous fiscal year, which was impacted by supply chain disruptions.

Sony aims to sell 25 million consoles by March 2024 in the current fiscal year. The company is quickly approaching 40 million PlayStation 5 sales. Overall, Sony’s gaming division reported revenue of JPY3.64 trillion ($27.3 billion).

Conversely, the Mobile Communications division observed a decrease in sales to $2.62 billion, 2.5% lower than the previous year, but the exact number of phones sold was not disclosed.

Sony’s image sensor business, on the other hand, was a significant victor. The company’s image sensor division achieved $1.56 billion in revenue, a 36% increase from the previous year.

However, Sony foresees a 5.7% decline in its imaging chip business in the current fiscal year due to diminished demand, particularly from Chinese smartphone manufacturers.

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