SONY Q1 2020 Report: Sony expects a 12.4% drop in profits in 2020 due to the pandemic; PS5 Release Date Announced
Sony Corporation of Japan expects a 12.4% decrease in net profit in the fiscal year 2020 (ending March 31, 2021) due to the situation with the spread of coronavirus, according to the official report published by the company.
So, according to Sony's forecast, net profit in the 2020 financial year will be 510 billion yen (about $4.8 billion), which is 12.4% less than in the 2019 financial year (ended March 31, 2020). At the same time, according to the company, net profit from April to June this year increased by 53.3% to 233.25 billion yen ($2.2 billion) due to strong sales in the video entertainment segment. Operating profit for the same period fell 1.1% to 228.4 billion yen ($2.1 billion).
In mid-June, Sony unveiled the next-generation PlayStation 5 console to the General public, and the console is expected to go on sale later this year.
Although production of PlayStation®4 hardware was slightly impacted due to issues in the component supply chain, these issues have now been addressed. Sales of game software that is downloaded from the network, as well as PlayStation®Plus (“PS Plus”) and PlayStationTMNow subscriber numbers, have significantly increased.
Regarding the launch of PlayStation®5 (“PS5™”), although factors such as constraints due to employees working from home and restrictions on international travel remain, necessary measures are being taken and preparations are underway with the launch of the console scheduled for the 2020 holiday season. At this time, no major problems have arisen in the game software development pipeline for Sony’s own first-party studios or its partners’ studios.