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Sony delivers historic results

Sony announced its financial results for the third fiscal quarter of 2020, which ended at the end of the year, and the results witnessed the achievement of revenues from the games division amounting to $ 8.4 billion, an increase of 40% over the same period compared to the previous year, thanks to the huge PlayStation 5 sales.

Sony managed to sell 4.5 million PlayStation 5 devices, which was accompanied by the sale of 1.5 million devices of the previous generation PlayStation 4.

And revenues, which amounted to about $ 8.4 billion, contributed to achieving profits of $ 763 million, with a growth rate of 50%.

Most of Sony’s revenue and profits came from the games it sold, with games accounting for double the revenue from the devices themselves.

The company achieved revenue of 4.6 billion from games, while it achieved $ 2.3 billion from hardware sales, and the remainder for other services.

Sony indicates that it is losing for every PlayStation 5 device it sells at the present time due to the costs of cutting and the internal hardware in the device, but this strategic plan from the company contributed to the sale of a large number of devices and thus contributed to increasing the sales of games and subscriptions to the Plus service that witnessed an increase of 9 % Compared to the previous period.

It is noteworthy that Sony’s revenues in the electronics division witnessed a slight decline despite an increase in operating income by 25.4%, to the value of $ 1 billion.

While the company saw growth in most other divisions such as its television division, it faced a decline in sales in the camera division.

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