Sony upgrades full-year forecast, logs brisk quarterly…

Sony upgrades full-year forecast, logs brisk quarterly…

Sony upgrades full-year forecast, logs brisk quarterly…

Separately, Nintendo Co yesterday said its quarterly net profit jumped 43.9 percent year-on-year to US$275 million, driven by the global popularity of its Switch console and game titles.

The electronics firm posted profit of JPY 195.0 billion ($1.75 billion) for April-June, up 23.7 percent from JPY 157.6 billion a year prior.

Sales rose 5 per cent to 1.95 trillion yen.

According to the Q1 report, "sales are expected to be significantly higher than the April forecast primarily due to higher-than-expected PlayStation 4 ("PS4") software sales including sales through the network, the impact of foreign exchange rates, as well as an expected increase in PS4 hardware unit sales".


Increasing smartphone competition means Sony "may need to cut the smartphone business outlook further or revise the current midterm business plan", Totoki said. Revenue and operating profit are also expected to increase between now and the end of the fiscal year. It previously projected that net profit would fall 2.2 percent to 480 billion yen. The forecast for operating income is expected to be significantly higher than the April forecast primarily due to the impact of the above-mentioned increase in sales. The dollar is now expected to average 110 yen for the full year, compared to its earlier forecast of 105 yen.

While the most recent sales period saw a decline in console sales on previous year, the black box still managed to shift 3.2 million units to retailers, overtaking the PS3, of which numbered records stopped, around the 80 million mark, in 2013.

Sony Corp. profits almost tripled in the latest quarter, boosted by a jump in PlayStation 4 software sales, the Japanese electronics and entertainment giant said Tuesday.

Sony said separately it bought a 25.1 percent stake in Nile Acquisition LLC from the Estate of Michael Jackson for $287.5 million to make it a wholly owned unit.

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