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Sony raises annual operating profit forecast to record $10.5bn

Music streaming and movie segments strong but PS5 sales hit by chip shortage

Movies and music streaming helped Sony's revenues in the nine months to December.   © Reuters

TOKYO -- Sony Group on Wednesday said that it expects operating profit for the full year ending in March to hit a record high of 1.2 trillion yen ($10.5 billion), a 26% jump over the previous year and beating its own earlier forecast.

Sony had previously forecast an increase of 9% to 1 trillion yen in operating profit for the year. This comes after the Japanese conglomerate reported a new high in operating profit and revenue for the third quarter ended in December.

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