Japanese multinational conglomerate, Sony Corporation disclosed that the launch of its PlayStation 5 console in November 2020 gave a profit boost of 87 percent.
The surge can be attributed to lockdowns ordered by governments to contain the spread of coronavirus.
Sony Corp. said that its net profit amounted to 1.1 trillion yen ($10 billion) between the months of April and December.
The company’s profit for the same period of 2019 was 569.8 billion yen.
Sony Corp. revised its yearly forecasts up in 2020, projecting that it would make upwards 1.1 trillion yen for the fiscal year until March.
Its earlier profit estimate was 800 billion yen.
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It had also projected, in October 2020, that its full-year sale would be 8.5 trillion yen, but with the revised forecast, it sets its sight on 8.8 trillion yen.
PlayStation 5 Launch
The PlayStation 5 console hit the market few days after Microsoft dropped the new Xbox during the holiday season.
Despite the raging pandemic, the gaming industry continues to sink its foot in the ground, unwavering.
More and more sales are made as individuals are kept indoors and are turning to gaming, spiking sales in game consoles and other online gaming activities.
