In March, Sony concluded its fiscal year with impressive results and achieved a record operating profit of 1.21 trillion JPY ($8.9 billion, converted), surpassing its own anticipated performance. For the upcoming fiscal year concluding in March 2024, Sony is projecting sales of approximately 11.5 trillion JPY, which is similar to the current year’s sales.
Sony’s success can be largely attributed to the exceptional sales of PlayStation 5. They sold a record-breaking 19.1 million consoles in the fiscal year, in contrast to the 11.5 million sold in the previous fiscal year, which faced supply chain challenges.
By March 2024, Sony aims to sell 25 million units. Currently, the PlayStation 5 has almost reached 40 million sales.
The sales of the Mobile Communications division decreased to JPY356.8 billion ($2.62 billion), which is 2.5% lower compared to the previous year. However, the company did not disclose the exact number of phones that were sold.
Sony’s gaming division made revenue of JPY3.64 trillion ($27.3 billion), while its image sensor business in the chip division generated JPY212.2 billion ($1.56 billion) in revenue, marking a 36% year-on-year increase.
Sony anticipates a 5.7% decline in its imaging chip business in the current fiscal year because of reduced demand, particularly from Chinese smartphone manufacturers.
Sony stated that it will focus on developing innovative products and services in the upcoming financial year to maintain its profitability, as well as develop new businesses such as artificial intelligence and robotics.
The company aims to stay ahead of the competition and remain a leader in its core businesses. Overall, this looks to be a promising year for Sony. Sony’s continued success and record-breaking performance are indicative of the company’s resilience and commitment to delivering market-leading products and services.