Shares in Sony Group Corp slid as much as 8.8% in early trade in Tokyo on Thursday after four consecutive days of gains as concerns about its gaming business re-emerge amid component shortages and competition from heavyweight rivals.
on the back of strong box office receipts for Spider-Man: No Way Home" and a one-off gain, while its gaming unit squeezed out a quarterly profit rise in part due to lower costs.Sony is struggling to produce enough PlayStation 5 units to meet demand amid component shortages and logistics snarl-ups. It sold fewer units - 3.9 million - in the third quarter than in the same period a year earlier.
There is also speculation Sony will be forced to follow Microsoft's move to offer games on its Game Pass subscription service, potentially squeezing margins. Sony on Wednesday signalled aggressive plans to maintain its gaming lead, saying it aims to double first-party gaming revenues and launch at least 10 live service titles, which offer continuous and updated play.
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