the PS5 just had its worst sales quarter in years — and Sony made record profit anyway

93.7 million consoles shipped, but the last quarter's hardware sales fell ~46%. and Sony's gaming division still posted its highest operating income… Aliteq Diego Santos · Gaming Editor

Here's the mechanism. Once ~94 million people own a console, the money stops coming from selling hardware (often near cost) and starts coming from what those people do with it: buying games (74.6…

The profit is coming from the install base, not new boxes

Sony guided flat operating income for the year ahead and pointed to spending on next-generation platform development — i.e., a PS6 is being funded now. It also flagged that PS5 hardware volume…

What it signals for what comes next

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