The gadget making company never seemed to have enough PlayStation 5 in-store upon launch but has been able to sell 4.5 million of the consoles in 2020 alone. The company announced that with combined sales of 1.4 million PS4 units, Sony’s gaming business had its best fiscal quarter in history with 883.2 billion yen ($8.4 billion) in revenue, up 40 percent over 2019.
The company’s profit also increased by 50%, making a total of 80.2 billion yen ($763 million), due to increased game sales amounting to 484 billion yen ($4.6 billion), which actually doubled the 240 billion yen ($2.3 billion) in hardware sales.
Sony also confirmed that it’s losing money on every PS5 sold because it set “strategic price points for PS5 hardware that was… lower than the manufacturing costs.”
With gaming leading the charge again, Sony had a good quarter overall, showing profitability across all its segments with sales and operating income up 9.5 and 20 percent, respectively. Now it just has to speed up production in order for everyone who wants a PS5 can get one.
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