Sony’s Entertainment Technology & Services business segment saw its global unit shipments of TV sets decline -8.6% from 9.3 million in the company’s fiscal year ended March 31, 2020 to 8.5 million in FY 2021, according to the company’s supplemental financial reporting.
However, the benefit of favorable exchange rates along with sales of larger screen, higher-margin TVs, digital cameras and other products helped the business unit tally sales dollars of 494.1 billion yen (approximately $3.8 billion), up 4.2% year over year. An operating loss of 11.6 billion yen ($89 million) compared with 20 billion yen in the year-ago quarter.
Sony, like most major manufacturers, has been hard hit by both shortages of key component parts like IC chips, and logistics problems shipping parts and products overseas, and trucking goods between warehouses and stores, as fuel prices and other expenses have risen in the wake of COVID-19, the Ukraine War and other compounding global hardships.
As the year wears on, the chances of such conditions improving is unclear, meaning it might a good idea to make television purchases early if you plan on making a purchase this year.
For the fiscal fourth quarter of 2022 (the calendar first quarter of 2022), Sony reported shipping 1.6 million TV units, down nearly 20% from the same period a year before.
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Similar hardware problems where experienced by the company’s Gaming & Network Services division, which reported sales of Sony’s popular PlayStation 5 gaming consoles sold 11.5 million units in full fiscal year 2021, up from 7.8 million units for the 12 months a year earlier, when the system first launched.
But on a quarterly basis, Sony’s gaming division shipped only 2 million PlayStation 5 consoles in its fiscal fourth quarter (first quarter of calendar 2022), which was down 3.3 million from the same period a year earlier.
In the period, G&NS sales revenue was up 0.8% year over year to 665.3 billion yen. The segment’s operating income was 87.3 billion yen compared with 31.7 billion yen in the same quarter a year earlier.
For the full fiscal year, G&NS sales were up 3%, even though software sales including revenue from non-first-party titles and add-on content.
For the company as a whole, Sony Group reported fourth-quarter fiscal 2021 quarterly total revenues rose 1% year over year to 2,264 billion yen ($19,486.3 million).
In the period, revenue was 9,921.5 billion yen, up 10.3% from the prior year’s period, driven primarily by higher sales from Pictures, Entertainment, Technology & Services and Music sales.
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By Greg Tarr
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