Sony drops PlayStation 5 sales forecast again due to chip shortage
Because of that, Sony reported 813.3 billion yen in revenue for its gaming division, down from 883.2 billion yen over the same quarter last year. However, operating profit rose 12.1 percent to $810 million, because Sony actually loses money on each PS5 console sold. that people want to buy PS5 consoles, but partners can't supply components due to the ongoing chip shortage.
Sony lowered its forecast for PS5 shipments for the fiscal year to 11.5 million units, down from 14.8 million. As such, it dropped its full year revenue estimate for its Game & Network Services division by 170 million yen . At the same time, it expects 6 percent more profit despite lower game sales, thanks to the aforementioned unprofitable consoles.
Sony's gaming division is its biggest money maker, accounting for around a quarter of its overall revenue and profits this quarter. However, its imaging division also fared well in fiscal Q3, with a 22 percent increase in revenue year-over-year, thanks to sales of its premium smartphone image sensors. Its movie division, meanwhile, saw a large jump in revenue to $4.
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