Oct 30, 2018
Sony eyes record profit as gaming hits boost earnings
Sony has forecast a huge jump in annual operating profit as demand for its games, including God of War and Spider-Man, boosted earnings. Gaming also spurred a strong rise in operating profit at rival Nintendo. IDC gaming analyst Sam Reynolds said both Japanese firms had posted "Impressive earnings based on the strength of the gaming market". Mr Reynolds said the gaming market was less competitive than Sony's home entertainment businesses, an industry that had faced "Substantial pricing pressure" over the last decade and aggressive competition from South Korean and Chinese rivals. Strong sales of gaming products also boosted earnings at rival Nintendo.
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