Sony announced a 10% increase in its revenue for the third quarter of 2023. This is attributed to the company’s success in the finance, film, and music sectors. In fact, there are talks of Sony planning to separate its finance department and establish a company called Sony Financial Group by 2025. This move indicates Sony’s intention to focus more on the gaming and entertainment sectors.
Sony falls short of its gaming goals
Once known only for its electronic hardware, Sony has begun producing original content and hardware for various sectors, especially gaming. However, while the company projected sales of 25 million units for the PlayStation 5 in 2023, it fell significantly short of this estimate, selling only 16.4 million units.
Investors closely monitor the decline in the gaming sector, attributing pressure on the company to Microsoft’s major acquisitions for the Xbox platform. The main reasons for the decline in the gaming sector include campaigns that significantly reduce profit margins and a decrease in sales of gaming hardware, especially PlayStation.
However, with the release of Marvel’s Spider-Man 2 in October, selling 10 million units, and the introduction of the new PlayStation Slim version, Sony has begun to look hopefully at the gaming sector for 2024.
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