Sony posts record Q1 profit on pandemic demand for devices and content

TOKYO: Sony 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.

Sony had expected growing pandemic demand for its devices and content to wane as coronavirus lockdowns eased, but with fresh waves of COVID-19 infections sweeping the world, restrictions are still common. Those supply-chain constraints could also affect production of other consumer electronic devices, chief financial pfficer Hiroki Totoki told a news briefing after Sony's results."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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