Sony reported its results for the holiday quarter and pleased investors: the company’s operating profit increased by 22% compared with last year. Against the backdrop of steady demand for entertainment services and games, the Japanese giant raised its forecast for the full financial year and stated that it had resolved in advance one of the key issues for the PlayStation 5 business — memory supplies.
Sony CFO Lin Tao, during a call with analysts, emphasized that the company had already secured the minimum required volume of memory for successful PS5 sales in the next financial year. At the same time, she did not rule out the impact of high memory prices on the console business and added that Sony continues negotiations with suppliers to fully cover future demand.
At the same time, Sony acknowledged that the profitability of its Games & Network Services division declined due to rising hardware costs.