Sony trims profit forecast on gaming woes

STORY: Sony cut its profit forecast on Friday (July 29).

The Japanese firm made the call after a weak first quarter for its PlayStation business.

Operating profit at Sony's key gaming unit fell 37% in the April to June quarter from a year ago.

It blamed a lack of new games.

Fewer health crisis restrictions also meant people left the house more.

Sony cut the annual operating profit forecast for its gaming unit by 16%.

The tech giant also cut its group-wide operating profit forecast for the year to next March by 4%, to just over $8.3 billion.

Sony did, though, post a near 10% rise in first-quarter operating profit - beating analyst expectations.

It was helped by higher demand for its movies and TV shows.

Sony was still positive about the near future for the PlayStation.

It believes its upcoming game slate will have gamers excited.

And it said it is addressing supply chain issues which have hit production of its PlayStation 5 console.

It aims to sell 18 million units of the PS5 this fiscal year as production ramps up.

It sold 11.5 million in the year ended March.

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