Operating profit slid 31 percent and comments by Sony executives
over demand for its games and image sensors units also sparked concern.
The PlayStation 5 console launched in late 2020 but supply
was badly affected by supply chain problems during the COVID-19 pandemic.
Despite an easing of those snarls, Sony said sales were below expectations in
the April-June quarter. It is targeting sales of 25 million units for the full
year.
Sony sold 3.3 million PS5 units in quarter. By comparison,
Nintendo's Switch console, which is in its seventh year on the market, sold 3.9
million units in the same period as consumers rushed to play the latest
"Zelda" title.
Sony said promotions that began are July are improving sales
momentum for the PS5.
"Sony started discounting the PS5 in the West, which is
never a good sign," said Serkan Toto, founder of the Kantan Games
consultancy.
"The company has a lot of work to do, first and
foremost to make sure those blockbuster first-party games come out
quicker."
"Marvel's Spider-Man 2" is due for release in
October ahead of the key year-end shopping season. Its predecessor has sold
more than 13 million units.
Sony, a leading maker of image sensors used in cameras, also
revised down its expectations for a gradual recovery in the smartphone market,
saying it now does not expect one until 2024 at the earliest due to weak demand
in major markets.
The company trimmed cut its annual operating profit forecast
for the unit by 10 percent, citing the impact of lower sales.
Adjustment to procurement by smartphone manufacturers is
having a large impact in the second quarter, Sony said.
The current financial year "will be tough" for the
sensors division, Jefferies analyst Atul Goyal wrote in a client note, adding
that higher margins are expected in the following year. © Reuters
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