Sony’s PS5 Sales Below Expectations, Nintendo Increases Shares in the Market 

The world of video games has recently witnessed fierce competition between Sony, the producer of the PlayStation, and Nintendo, whose device, the Nintendo Switch, has placed it among the giants of the gaming world and been part of sales target.

PlayStation 5 sales failed to meet Sony’s targets, despite an increase of approximately 1.1 million units during the holiday and annual vacation season. The company intends to adjust its sales targets for the upcoming fiscal year, while Nintendo Switch sales saw an increase of about 6.9 million units by the end of the fourth quarter of last year. 

Sony’s sales exceeded analysts’ expectations, while the tech giant’s quarterly net profit increased. However, the company’s net revenue for the fiscal year 2023 saw a decline according to the company’s financial results released on Wednesday. 

Sony Adjusts Sales Goals for 2025 

PlayStation 5 sales failed to reach the set target, with Sony selling only about 8.2 million units during the third quarter of the last fiscal year, which ended on December 31, 2023. This represents an increase of about 7.1 million units over the same period last year. 

Despite this increase, Sony considered it insufficient, prompting the company to lower its PlayStation 5 sales targets from 25 million units to 21 million units by March 2025. Sony stated that the device “is entering the final stage of its life cycle.” 

Global PlayStation Device Sales 

Sony’s Vice President Naomi Matsuoka explained that the company expects a slowdown in sales pace from the next fiscal year, focusing on balancing profitability and sales. 

Reuters reported that Sony plans to list its financial group in October 2025 while retaining a stake of over 20%, focusing on entertainment sectors in the coming period. 

It is worth mentioning that the PlayStation 5 was launched in November 2020, and its sales reached about 54.7 million units by February of this year. 

Sony’s Sales Exceed Expectations 

According to the company’s data revealed on Wednesday, Sony’s total sales during the fourth quarter of last year amounted to $24.9 billion, exceeding analysts’ expectations. The company’s net income was $2.43 billion compared to $2.13 billion in the last quarter of the previous year. 

According to Refinitiv data, the company’s net profit during the last quarter of last year was about $8.13 billion, compared to $6.25 billion in the last quarter of 2022. 

The data showed a decrease in the company’s operating income to $6.15 billion in the last quarter of 2023, compared to $7.68 billion in the last quarter of 2022. 

According to the data, the company’s total sales for the year 2023 amounted to $63 billion, while the net revenue of the company during 2023 decreased to $5.2 billion compared to $5.72 billion in 2022. 

Sony’s total sales from the gaming and network sector were $9.59 billion in the last quarter of last year and $20.5 billion during the fiscal year 2023. The company’s sales in the entertainment and technology services sectors amounted to $4.88 billion in the last quarter of 2023, and $12.7 billion for the entire fiscal year. 

Nintendo Sells 139 Million Units of Switch 

Nintendo officially announced the sale of more than 139 million units of its gaming device (Nintendo Switch) since its launch in 2017 until the end of the fourth quarter of last year, indicating the device’s continued dominance in video game device sales. 

Nintendo’s financial results report mentioned the sale of about 139.6 million Switch devices until December, representing an increase of about 6.9 million units from November of last year, showing that device sales exceeded the company’s expectations by about 3.3%. 

According to the data, the company’s total sales for the fiscal year 2023, ending in December of last year, amounted to about $9.2 billion, while the company’s total profit was about $5.17 billion. The company achieved operating profits of $3.088 billion. 

According to Refinitiv data, the company’s revenue during the last quarter of last year was $4.05 billion compared to $4.53 billion in the last quarter of 2022, while the company’s operating profits were about $1.25 billion during the fourth quarter of 2023. 

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