Sony Dives Most in Two Years After Cutting PS5 Sales Outlook
- Demand for global electronics is sagging in a downturn
- Underwhelming PlayStation 5 sales led to outlook cut
The PlayStation 5 console.
Photographer: Kiyoshi Ota/BloombergSony Group Corp. plunged its most in two years after slashing projections for sales of the aging PlayStation 5 gaming console, underscoring a global electronics slump.
The shares fell as much as 8.4% in early Tokyo trading, the biggest intraday fall since February 2022. On Wednesday, Sony trimmed its revenue forecast after sales of its flagship PS5 in the December quarter came in roughly a million units lower than analysts’ estimates, at 8.2 million consoles. The company now expects to sell 21 million units for the fiscal year, down from the previous forecast for 25 million units.