India Business News: Sony Corp terminates the $10 billion merger between its India unit and Zee Entertainment Enterprises due to unmet conditions. Disagreements over leade
Japan s Sony Corp on Wednesday said it expects operating income to slip 4.3% this business year following record profit from sales of music, gaming and other content to people forced to stay at home by COVID-19 lockdown measures. That demand has helped Sony continue its shift from consumer electronics to entertainment content and digital subscription services, though analysts said it may wane as more people in key markets such as the United States get vaccinated against the novel coronavirus. For the business year started April 1, Sony forecast profit to fall to 930 billion yen ($8.53 billion), missing the 976.4 billion yen average of 19 analyst estimates, Refinitiv data showed.
Sony expects profit to slip after COVID-19 pandemic boom
04/28/2021 7:24
TOKYO (Reuters) -Japan s Sony Corp on Wednesday said it expects operating income to slip 4.3% this business year following record profit from sales of music, gaming and other content to people forced to stay at home by COVID-19 lockdown measures.
That demand has helped Sony continue its shift from consumer electronics to entertainment content and digital subscription services, though analysts say it may wane as more people in key markets such as the United States get vaccinated against the novel coronavirus.
For the business year started April 1, Sony forecast profit to fall to 930 billion yen ($8.53 billion), missing the 976.4 billion yen average of 19 analyst estimates, Refinitiv data showed.