Sony PlayStation BIG PROBLEMS "Future of PS5?!"
65Despite PlayStation made $30 billion in 2023 What led to Sony PlayStation laying off 900 people? | This Week in Business
Sony's president complained about unaccountable developers missing budgets and schedules, but there are other culprits behind the game division's thin profit margin..
Sony’s gaming division is, in some aspects, firing on all cylinders. The Japanese giant is raking in record revenues, and while it’s had to scale back its hardware sales targets, its current goal of 21 million units in the current fiscal year is no slouch. It’d be easy to overreact and paint PlayStation as a failing business, but that doesn’t reflect reality; there’s a lot of good among the bad.
The division’s big problem is that it’s spending almost as much as it’s making. In its most recent financial report, it registered record-breaking revenue of ~$10.2 billion, only to a turn a profit of just ~$608 million. The optimistic viewpoint here is that it’s a profitable business overall, but with margins as razor-thin as this, the firm is effectively one misstep away from plunging itself into the red. That’s not healthy.
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