After poor Microsoft Xbox show, Sony expects weaker PlayStation sales ahead

Japanese giant Sony on Friday warned weaker sales of its PlayStation (PS) gaming consoles ahead, along with reducing its annual profit outlook, as it closed the $3.7 billion acquisition of Bungie

Japanese giant Sony on Friday said it expected weaker sales of its PlayStation (PS) gaming consoles ahead, along with a reduction in annual profit outlook, as it closed the $3.7-billion acquisition of Bungie, the developer of Destiny and hugely popular Halo franchise.

Sony revealed it shipped 2.4 million PlayStation 5 consoles in its June quarter, up only 4 per cent from the 2.3 million shipped during the same period last year.

PS5 lifetime shipments have now reached 21.7 million, reports The Verge.

Sony said its software sales also plummeted 26 per cent, blaming lack of big PlayStation titles this year compared to 2021 and less time spent playing games in general.

Total gaming time by PlayStation users in the April-June quarter declined 15 per cent from a year earlier, according to the company.

Sony previously forecast 18 million PlayStation 5 shipments for its 2022 financial year, and the company hasn't revised those estimates yet.

"Supply has not been sufficient and demand has not gone down. We really need to meet the demand, that is the important thing to do," said Sony CFO Hiroki Totoki.

Net profit for the April-June quarter was up 3 per cent year on year and revenue grew 2.4 per cent to 2.3 trillion yen.

Earlier this week, Microsoft said it expects revenue to decline in the low to mid-single digits, driven by declines in first-party gaming content on Xbox consoles.

In its June quarter, gaming revenue declined 7 per cent and 5 per cent in constant currency.

"Xbox hardware revenue declined 11 per cent and 8 per cent in constant currency," informed Amy Hood, Executive Vice President and CFO at Microsoft.

--IANS

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