Boosted earnings for the gaming industry
- 30 October 2018
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Sony eyes record profit as gaming hits boost earnings, while
at rival Nintendo they also see strong sales of their gaming products.
For Sony, the upgrade comes after strong sales in its Playstation division drove revenues in the second quarter.
IDC gaming analyst Sam Reynolds said both Japanese firms had posted "impressive earnings based on the strength of the gaming market".He said Sony could credit strong sales to "the quality of games on the platform" which include bestsellers God of War and Spider-Man, while demand for Red Dead Redemption II has also been high.
Along with gaming, Sony's movie unit and music business also supported profits during the second quarter and helped offset challenges in its mobile division.
The "Switch", launched in 2017 and it has proved a runaway success for Nintendo. It has become the fastest-selling game console in the Japanese firm's history and Nintendo's biggest hit since the Wii was launched in 2006. But trade tensions between the US and China could cast a shadow over future earnings...