Sony Posts Surprise Profit Powered by Gaming Renaissance
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Sony’s resurgent games division helped the Japanese conglomerate blow past quarterly results expectations, vindicating Chief Executive Officer Kazuo Hirai’s growing focus on media and entertainment.
The company, which in years past has scaled back in businesses from phones to TVs, posted a surprise profit for the June quarter. It more than doubled operating income from the sale of PlayStations and software, a particularly optimistic signal given the company’s next marquee products haven’t yet come to market.
Sony is looking to cement its lead over Microsoft and Nintendo by launching a virtual-reality headset in October in the U.S., as well as a souped-up version of the PS4 potentially before the end of the year. The twin gadgets mark Hirai’s long-term effort to dominate the industry with the PlayStation division, which he helped launch in 1994 before being tapped as CEO.
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