Sony loses $25 billion in value due to PlayStation 5

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Sony had a rough start to the year as the Japanese electronics giant cut its sales forecast for the PlayStation 5, as it faces a bigger challenge than rival Microsoft.

The company’s stock has fallen by about 13% since the beginning of the year, with about $25.71 billion in the value of the company fading, according to Refinitiv data.

And on Wednesday, it reducedSonyFull-year sales target for the PlayStation 5 from 14.8 million units to 11.5 million units. The company sold 3.9 million units in the fourth quarter, down from 4.5 million in the same quarter in 2020.

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Sony, like many other consumer electronics companies and even automakers, is battling a global shortage of semiconductors, as it cannot produce devices Sufficient under strong demand.

Sony’s gaming division posted revenue of 813.3 billion yen ($7.08 billion), down 8% year-on-year, and the company lowered its sales forecast for the division for the current fiscal year, which ends in March, by 170 billion yen to 2.73 trillion yen. .

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