Sony sold over 8 million PlayStation 5 units in 6 months

Sony reported that its net profit for the April-September period fell by 23.1 percent to 417.6 billion yen (2.76 billion dollars).

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Sony sold over 8 million PlayStation 5 units in 6 months

Sony included its net profit, operating profit, and sales revenue in the comprehensive financial statements it released for the April 2023-September 2023 period.

Accordingly, it reported that its net profit for the April-September period fell by 23.1 percent compared to the same period last year, declining to 417.6 billion yen (2.76 billion dollars).

During the period when sales revenue increased by 19.3 percent to 5.79 trillion yen (38.3 billion dollars), operating profit fell by 29.7 percent to 516 billion yen (3.4 billion dollars).

The Japanese company, which set an annual sales target of 25 million for the PlayStation 5 game console, was able to sell 8.2 million consoles during the 6-month period in question.

In his statement, Sony President Totoki Hiroki noted that "selling 25 million units is an ambitious target and it will not be easy to achieve," adding that they view the months of November and December, which coincide with the holiday seasons, as critical.

The Japanese company's net profit for the 2022 fiscal year was recorded as 937.1 billion yen (approximately 7 billion dollars at that time), an increase of 6.2 percent compared to the 2021 fiscal year.

The comprehensive net profit expectation for the 2023 fiscal year, which will close as of March 2024, has been raised from the previously announced 860 billion yen to 880 billion yen (5.8 billion dollars).

The targeted profit margin is expected to be positively reflected by demand for console, video game, music, and sensor sales, as well as the depreciation of the Japanese yen against foreign currencies.

News Source: AA