Japanese electronics giant Sony increased its sales by up to 27% in the gaming market. The company boosted its profits by up to $1.2 billion during the second half of the year.
The electronic giant gained its profits to $4.9 billion in the first quarter of the year with an operating profit of $800 million with 65% year after year. This has caused Sony to boost up to 59% shares with a 6% change.
Apart from gaming consoles, Sony noticed huge sales within the financial service. It is considered the second biggest revenue going up to 27%. The mobile unit for Sony has cut down to 32% year after year. Their semiconductors like appliances also went up to 11% of their sales.
The optimism of this sales growth is in the section of PlayStation. Its gaming console is admired by many gaming enthusiasts whether it’s the children or teenagers. In June 2018, when Spider-Man set a new record for the gaming console, many gamers admired it. The company sold up to 3.3 million copies.
The level of sales for their smartphones has dropped rapidly to 3% with a loss of 48 billion Yen. Their latest smartphones did not satisfy the demand of the customers. Newer phones from Chinese like Huawei are adopting the idea.
In April, Sony launched the PS4 God of War, which sold over 3.1 million copies in the first three days.
The prices dropped for PS4 Exclusive which made them very popular among the gaming enthusiasts. The main reason for this enormous popularity is their low price.
“This will be the best year for the PlayStation for first party games and overall profitability of the platform,” Damien Thong, Analysyts, Macquarie Group Ltd.
Earlier this year Sony purchased EMI Music Publishing worth 110 billion yen (2.3 billion US dollars). The reason behind these dramatic increases in sales is the strong performance for the PlayStation gaming console. During the purchase of the music publication, the deal held a 39.8% share in the venture.
The music publication gained a huge share of 55% of the additional sales. It is predicted that Sony will hit a stable financial state this year.
So a big congrats to Sony! Hope you remain financially strong! Stay tuned to our updates!