Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Japan
  4. Japan Exchange
  5. Sony Group Corporation
  6. News
  7. Summary
    6758   JP3435000009

SONY GROUP CORPORATION

(6758)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Sony : PS5 outstrips predecessor with 10 million units sold since Nov launch

07/28/2021 | 10:01am EDT
FILE PHOTO: Logos of Sony's PlayStation 5 are displayed at a consumer electronics store in Tokyo

TOKYO (Reuters) - Sony Group Corp said on Wednesday its PlayStation 5 (PS5) gaming console has sold more than 10 million units since launching last November, outstripping sales of its predecessor even as the Japanese firm grapples with a global chip shortage.

The PS5, which offers cutting edge graphics and faster loading times than the PS4, is in short supply as the COVID-19 pandemic strains global semiconductor supply chains while demand has risen amid a gaming boom with more people staying indoors.

"We've built more PlayStations faster than we ever have before which makes me happy. But on the other hand, we're some time from being able to meet all the demand that's out there, which makes me feel bad," Sony Interactive Entertainment CEO Jim Ryan told Reuters via email.

"Our partners are performing really well for us, but the chip shortage is definitely a challenge that we are all navigating," Ryan said.

Boosted by exclusive games likes Marvel's Spider-Man: Miles Morales, which has sold more than 6.5 million copies, PS5 sales have outstripped the PS4.

It took Sony around nine months to sell 10 million units of the PS4, which had a staggered launch. More than 100 million units of the console have been sold since November 2013.

Electronics makers warn of deepening semiconductor shortages, with Apple on Tuesday saying the shortfall is affecting iPhone production.

"Sony's deep expertise in supply chain management for consumer electronics has enabled it to weather the worst impacts of the pandemic even during the launch of a new product," said Piers Harding-Rolls, head of games research at Ampere Analysis.

Sony sees demand for the PS5 continuing even as vaccinations spur easing of curbs on going out, Ryan said.

A strong games slate will be crucial to maintain momentum amid competition from Microsoft's rival Xbox device, analysts say.

Another first-party title for Sony, Ratchet & Clank: Rift Apart, has sold more than 1.1 million copies since its release last month. First-party titles refer to games from companies that are owned by the firm making the console.

The group forecasts PS5 hardware sales of at least 14.8 million units in the year through March.

(Reporting by Sam Nussey; Editing by Himani Sarkar)

By Sam Nussey


© Reuters 2021
All news about SONY GROUP CORPORATION
02:27aS4 CAPITAL : Merges With Zemoga To Expand Technology Services Offering
MT
09/16FTSE 100 Rises on Speculation over UK's Travel Restrictions Removal
DJ
09/16FTSE Rises, THG Shares Fall After 1st Half Loss as Shake-Up Looms
DJ
09/16UK regulator refers Sony Music's purchase of AWAL for in-depth probe
RE
09/16UK Watchdog Launches In-Depth Probe On Sony Music's Purchase Of AWAL, Kobalt ..
MT
09/16UK Competition Watchdog to Investigate Sony's AWAL Acquisition
DJ
09/15SONY GROUP ESG BRIEFING FY2021; EVOL : Initiatives to Create Value Through Sony'..
AQ
09/15PROTECTING THE EARTH : Sony's “Responsibility” and “Contributi..
PU
09/15EVOLUTION OF SUSTAINABILITY MANAGEME : 5.73mb]
PU
09/15Shinsei Bank seeks help from Sony to counter SBI's takeover bid
AQ
More news
Analyst Recommendations on SONY GROUP CORPORATION
More recommendations
Financials
Sales 2022 9 530 B 86 723 M 86 723 M
Net income 2022 752 B 6 843 M 6 843 M
Net Debt 2022 469 B 4 267 M 4 267 M
P/E ratio 2022 20,4x
Yield 2022 0,53%
Capitalization 15 197 B 139 B 138 B
EV / Sales 2022 1,64x
EV / Sales 2023 1,47x
Nbr of Employees 109 700
Free-Float 98,2%
Chart SONY GROUP CORPORATION
Duration : Period :
Sony Group Corporation Technical Analysis Chart | 6758 | JP3435000009 | MarketScreener
Technical analysis trends SONY GROUP CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 19
Last Close Price 12 270,00 JPY
Average target price 15 026,32 JPY
Spread / Average Target 22,5%
EPS Revisions
Managers and Directors
Kenichiro Yoshida Co-Chairman, President & Chief Executive Officer
Hiroki Totoki CFO, Director, VP & Head-Business Administration
Shuzo Sumi Co-Chairman
Toru Katsumoto Chief Technology Officer, Executive VP, Head-R&D
Tsuyoshi Kodera Head-Information Systems & Security
Sector and Competitors