Sony reveals it loses money selling PS5 consoles

In its recently released quarterly report, Sony revealed to its investors that it actually sells the PlayStation 5 at a loss.

According to Sony, the “strategic price” was used to reduce the launch of the Microsoft Xbox Series X / S around the same time. The company made up for its losses with game sales and other entertainment revenue. Incredibly, the plan was rewarded with 4.5 million consoles sold in 2020 and $ 4.6 billion in game sales, which doubled the $ 2.3 billion generated from hardware sales. In addition, the PlayStation Plus subscription and other network revenues saw an overall increase of nine percent.

Unable to manufacture PlayStation 5 consoles to meet overwhelming demand, Sony is showing signs of a great fourth quarter after bringing in a record $ 10 billion profit in the third quarter, with all its segments with sales and operating revenue of 9.5 and 20 percent, respectively.

In case you missed it, Chaos broke out recently with the sale of the Sony PlayStation 5 in Tokyo.

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