Sony has announced a 7% year-on-year decline in profit for fiscal year 2023. The company also revealed that sales of its PlayStation 5 (PS5) console fell short of expectations.
The news comes as a blow to Sony, which has been enjoying strong growth in recent years thanks to the success of the PS5. However, the company has faced a number of challenges in recent months, including supply chain disruptions and the ongoing global chip shortage.
In addition to the decline in profit, Sony also announced that its sales of image sensors and other electronic components fell by 12% year-on-year. The company attributed this decline to the slowdown in the global smartphone market.
Despite the challenges, Sony remains optimistic about its future prospects. The company expects to see a rebound in sales of image sensors and other electronic components in the second half of the year. Additionally, Sony is confident that the PS5 will continue to be a major driver of growth in the years to come.
Key takeaways:
- Sony's annual profit drops by 7% in fiscal year 2023
- PS5 sales fall short of target
- Challenges include supply chain disruptions and global chip shortage
- Sony remains optimistic about its future prospects
What do you think about Sony's latest results? Let me know in the comments below.
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