PS5 Sales Target Missed; Marvel’s Spider-Man 2 Achieves 10 Million Copies Sold: Sony Updates

On Wednesday, Sony, a prominent Japanese multinational corporation, significantly reduced its full-year sales projection for the PlayStation 5 console. The downward revision comes amid disappointing sales figures during the year-end shopping season. Initially, Sony had anticipated selling 25 million units by the end of March, but they have adjusted this figure to 21 million units.

Moreover, the company anticipates a gradual decline in unit sales in the next financial year. Interestingly, Sony revealed its intention to focus more on its entertainment and image sensor sectors, and as part of this strategic shift, it plans to list its financial business next year. Additionally, Sony mentioned that it does not have any major franchise titles lined up for release in the upcoming fiscal year.

Sony said it has sold 10 million copies of Marvel’s Spider-Man 2, which launched on October 20, with the company also rolling out a slim version of the console from November to boost sales.Nintendo last week hiked its full-year Switch forecast to 15.5 million units, from 15 million units previously, as the Kyoto-based company extends the lifecycle of the aging console.

Xbox maker Microsoft is due to share updates on its games business on Thursday amid speculation the company will bring its titles to other platforms.”If big third-party titles grow that will be a positive factor and we hope to utilise that momentum,” Sony President Hiroki Totoki told a news briefing.

Sony, a leading maker of image sensors for smartphones, said profit at its chips division rose 18 percent on higher sales.TSMC said last week it will build a second fab in Japan in partnership with companies including Sony in a vote of confidence by the leading contract chipmaker in the country.

Last month Sony scrapped plans for a $10 billion (roughly Rs. 83,000 crore) merger of its Indian business with Zee Entertainment which would have created a TV juggernaut.The Indian market has great growth potential on a long-term basis, Totoki said.

“If we can find another opportunity that would replace this type of plan we will actively look at that and we also need to reformulate our organic growth strategy,” Totoki said.Sony’s shares closed down 0.5 percent ahead of earnings. They have gained 9 percent this year.