Sony Boosts Profit Outlook on Better Movies, Music Prospects
Sony Group Corp. raised its fiscal-year profit forecast, betting that improving prospects for its music, movies and electronics divisions will offset slowing gaming demand as the global economy starts to emerge from Covid-19.
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Sony Chief Financial Officer Hiroki Totoki said that the company's key product, the $499 PlayStation 5, was no longer selling at a loss. The $399 PS5 Digital Edition is on track to have its loss offset by other hardware sales including peripherals and the PlayStation 4, the CFO added.