{"id":3783,"date":"2018-10-30T10:54:26","date_gmt":"2018-10-30T10:54:26","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/sony-eyes-record-profit-as-gaming-hits-boost-earnings\/"},"modified":"2018-10-30T10:54:26","modified_gmt":"2018-10-30T10:54:26","slug":"sony-eyes-record-profit-as-gaming-hits-boost-earnings","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/sony-eyes-record-profit-as-gaming-hits-boost-earnings\/","title":{"rendered":"Sony eyes record profit as gaming hits boost earnings"},"content":{"rendered":"\n<div property=\"articleBody\">\n<figure class=\"media-landscape no-caption full-width lead\"><span class=\"image-and-copyright-container\"><\/p>\n<p>                <img loading=\"lazy\" decoding=\"async\" class=\"js-image-replace\" alt=\"Spiderman\" src=\"https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/15739\/production\/_96456878_2.jpg\" width=\"976\" height=\"549\"\/><span class=\"off-screen\">Image copyright<\/span><br \/>\n                 <span class=\"story-image-copyright\">Sony<\/span><\/p>\n<p>            <\/span><\/p>\n<\/figure>\n<p class=\"story-body__introduction\">Sony has forecast a huge jump in annual operating profit as demand for its games, including God of War and Spider-Man, boosted earnings. <\/p>\n<p>The Japanese electronics firm raised its annual profit forecast to 870bn yen ($7.7bn; \u00a36.0bn), up 30% from estimates given in July. <\/p>\n<p>The upgrade comes after strong sales in its Playstation division drove revenues in the second quarter. <\/p>\n<p>Gaming also spurred a strong rise in operating profit at rival Nintendo. <\/p>\n<p>IDC gaming analyst Sam Reynolds said both Japanese firms had posted &#8220;impressive earnings based on the strength of the gaming market&#8221;. <\/p>\n<p>He said Sony could credit strong sales to &#8220;the quality of games on the platform&#8221; which include bestsellers God of War and Spider-Man, while demand for Red Dead Redemption II has also been high. <\/p>\n<ul class=\"story-body__unordered-list\">\n<li class=\"story-body__list-item\"><a href=\"https:\/\/www.bbc.co.uk\/news\/technology-45574301\" class=\"story-body__link\">Sony unveils mini Playstation Classic console<\/a><\/li>\n<li class=\"story-body__list-item\"><a href=\"https:\/\/www.bbc.co.uk\/news\/entertainment-arts-44518982\" class=\"story-body__link\">Gaming becomes the latest addiction<\/a><\/li>\n<\/ul>\n<p>Mr Reynolds said the gaming market was less competitive than Sony&#8217;s home entertainment businesses, an industry that had faced &#8220;substantial pricing pressure&#8221; over the last decade and aggressive competition from South Korean and Chinese rivals. <\/p>\n<p>Along with gaming, Sony&#8217;s movie unit and music business also supported profits during the second quarter and helped offset challenges in its mobile division. <\/p>\n<p>Operating income for the period was 239.5bn yen, <a href=\"https:\/\/www.sony.net\/SonyInfo\/IR\/library\/presen\/er\/pdf\/18q2_sonypre.pdf\" class=\"story-body__link-external\">the firm said in a statement. <\/a><\/p>\n<h2 class=\"story-body__crosshead\">Nintendo profit jumps<\/h2>\n<p>Strong sales of gaming products also boosted earnings at rival Nintendo.<\/p>\n<p>The firm&#8217;s second-quarter operating profit hit 30.9bn yen &#8211; helped by sales of its Switch console &#8211; but the result was below analyst expectations of 37.9bn yen, according to Bloomberg. <\/p>\n<figure class=\"media-landscape has-caption full-width\"><span class=\"image-and-copyright-container\"><\/p>\n<p>                 <span class=\"off-screen\">Image copyright<\/span><br \/>\n                 <span class=\"story-image-copyright\">Nintendo<\/span><\/p>\n<p>            <\/span><figcaption class=\"media-caption\"><span class=\"off-screen\">Image caption<\/span><br \/>\n                <span class=\"media-caption__text\"><br \/>\n                    The Switch console is the fastest-selling games console in Nintendo&#8217;s history<br \/>\n                <\/span><br \/>\n            <\/figcaption><\/figure>\n<p>The console, launched in 2017, has proved a runaway success for Nintendo. <\/p>\n<p>It has become the fastest-selling games console in the Japanese firm&#8217;s history and Nintendo&#8217;s biggest hit since the Wii was launched in 2006.<\/p>\n<p>But trade tensions between the US and China could cast a shadow over future earnings. <\/p>\n<p>IDC&#8217;s Mr Reynolds said at present, Japanese electronics makers were relatively sheltered from the trade uncertainty surrounding China, as console sales there are a fraction of the global market. <\/p>\n<p>&#8220;However, there&#8217;s also a chance that Nintendo could face significant pressure &#8211; and ultimately shortages &#8211; should they try to start&#8230; building up supply of the next-generation Switch before trade relations have normalised,&#8221; he added.  <\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bbc.co.uk\/news\/business-46028892\">Source<\/a> by <a href=\"\">[author_name]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image copyright Sony Sony has forecast a huge jump in annual operating profit as demand for its games, including God of War and Spider-Man, boosted earnings. The Japanese electronics firm raised its annual profit forecast to 870bn yen ($7.7bn; \u00a36.0bn), up 30% from estimates given in July. The upgrade comes after strong sales in its &hellip; <\/p>\n","protected":false},"author":0,"featured_media":3784,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3783","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/3783","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=3783"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/3783\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/3784"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=3783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=3783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=3783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}