| Dulfite said: I just read that Sony has had major losses across the board due to Covid-19 and that they are short term not doing well. Game department was pretty much the only profit. While selling PS5 at a lower price than they would have will help them a lot more in the long run, selling the device at a loss or significant loss may put their short term finances, as a whole company, into dangerous territory. https://sonyreconsidered.com/sony-q1-2020-earnings-overview-revenue-2-profits-1-f467dafe5609 |
No, they didn't. They've actually revised their forecast of losses down since May (30%) August (26%).
TOKYO (Reuters) - Japan's Sony Corp surprised the market on Tuesday by reporting just a 1.1% profit fall for the cornonavirus-hit first quarter, as its gaming business thrived while consumers locked down at home looked for entertainment and downloaded more games. The electronics and entertainment firm posted April-June profit of 228.4 billion yen ($2.15 billion).
Sony have been re-structuring for years.
The impact of the novel coronavirus on Sony has been limited compared with Japanese electronics peers such as Panasonic Corp due to its pursuit of recurring revenue such as subscription fees on gaming content. To accelerate the portfolio shift to such revenue streams, Sony recently invested in Chinese video site Bilibili and Epic Games, creator of the popular video game Fortnite.
You have to be joking. Why would they sell off their most profitable division? Its a cornerstone for them that ties to all their other business.
They posted a $230 million profit in Movies. You can't make money if the movies aren't releasing, but you aren't spending money on marketing or development either. The pandemic will hit the movies segment hard over the next few years granted, but SPUOMC, TV shows (Amazon) and future films was looking very promising for that segment.
