TOKYO - Sony Corp raised its earnings outlook on Wednesday after a record first-quarter operating profit helped by pandemic stay-at-home demand for PlayStation 5 consoles, TVs, music and movies.
It raised its profit forecast for the year through March 2022 to 980 billion yen from 930 billion, bringing it closer to the 1 billion yen average estimate from 25 analysts. A shortage of semiconductors, however, which is also affecting the likes of Apple, means it cannot produce enough PlayStation games consoles to meet demand.
"We use a lot of semiconductors and it is a source of concern," Totoki said. "We can't become complacent," he added.
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