The Journal Gazette
Wednesday, August 05, 2020 1:00 am

Video games, online sales give Sony boost

YURI KAGEYAMA | Associated Press

TOKYO – Japanese electronics and entertainment company Sony Corp. said Tuesday that its April-June profit jumped 53% as its video game and other online businesses thrived with people staying home due to the coronavirus pandemic.

Tokyo-based Sony reported a 233 billion yen ($2.2 billion) profit for the last quarter, up from 152 billion yen the year before.

Sony warned that its movies division would likely suffer for two or three years due to delays in film projects and limits to theater seating because of the pandemic.

Consumer demand for electronics products has also plunged, according to Sony.

Some factories in China and Malaysia were temporarily shut down and an inability for some employees to travel also was a hindrance, the company said.

Sony's quarterly sales edged up 2% to 1.97 trillion yen ($18.6 billion).

Earlier this year, Sony unveiled a prototype of an electric car, highlighting the reach of consumer electronics into new sectors in the digital age.

The company is projecting a 510 billion yen ($4.8 billion) profit for the fiscal year that ends in March 2021, down 12% from the previous fiscal year. 

Sign up for our daily headlines newsletter

Top headlines are sent daily