The games and network services business saw an impressive
32% YoY increase in full-year sales, reaching 2.66 trillion yen ($24.6
billion). Operating profit, on the other hand, came in at 342 billion yen
($3.17 billion), up from 238 billion yen ($2.2 billion) last year. However,
Sony notes that the division's operating income was dragged down by "loss
resulting from strategic price points for PS5 hardware that were set lower than
the manufacturing costs."
Sony's latest earnings report reveals that the company has
sold 7.8 million PS5 consoles so far. While 4.5 million units of the console
were shipped in Q3 2020, Sony managed to ship 3.3 million units in the fourth
quarter. The lower Q4 numbers don't come as a surprise, as demand for the
console remains higher than the supply and restocks of the PS5 are still
sporadic at most retailers. PS4 shipments, in comparison, reached 5.7 million
units in FY 2020.
Sony's PlayStation Plus subscriptions also helped boost
profit during the fourth quarter. Sony says the number of PlayStation Plus
subscribers jumped 20% YoY to 47.6 million. Game sales went up from 276.1
million units in FY19 to 338.9 million units.
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