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Electronics

Sony faces profit drop following record-breaking year

Conglomerate expects tougher times after unprecedented gaming demand

Sony expects its breadwinner gaming business to fall short of the previous year, which saw unprecedented demand during the initial phases of the coronavirus pandemic.   © Reuters

TOKYO -- Sony expects slower sales growth this year after unprecedented demand for games and other home entertainment amid the COVID-19 crisis propelled the company to new heights in 2020.

The Japanese conglomerate announced on Wednesday an expected 8% rise in revenue to 9.7 trillion yen ($89 billion) for the year ending March 2022, with operating profit dropping 4% to 930 billion yen.

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