<p>Japan's Sony Group Corp posted on Wednesday a 32 per cent rise in third-quarter operating profit, smashing analyst estimates.</p>.<p>Operating profit was 465.2 billion yen ($4.05 billion) in the three months to Dec. 31. That compared with an estimated average profit of 351.6 billion yen from nine analysts surveyed by Refinitiv.</p>.<p>Sony hiked its full-year profit forecast to 1.2 trillion yen from 1.04 trillion yen. That prediction is higher than an average 1.09 trillion yen profit forecast from 24 analysts, Refinitiv data showed.</p>.<p>The conglomerate — spanning areas such as entertainment, sensors and financial services — switched to IFRS accounting standards from US GAAP in the current financial year.</p>.<p>Sony is benefiting from strong demand for its PlayStation 5 (PS5) games console which it launched in November 2020. A shortage of semiconductors, however, means it is struggling to produce enough consoles to meet that demand.</p>.<p>The group said last year it will spend 2 trillion yen over three years on strategic investments, including a push to expand subscribers to its gaming and entertainment services as it streamlines its consumer electronics business.</p>.<p>On Tuesday, the company announced it will <a href="https://www.deccanherald.com/business/business-news/sony-acquires-gaming-legend-bungie-for-36-billion-1076793.html" target="_blank">buy Bungie Inc</a>, the original creator of the "Halo" videogame, for $3.6 billion. That comes after XBox console maker Microsoft Corp said last month it will purchase "Call of Duty" maker Activision Blizzard for $69 billion.</p>.<p>The Japanese consumer tech company may also branch out into electric vehicles (EVs), with Chief Executive Kenichiro Yoshida unveiling a new EV prototype and announcing the creation of a mobility business at a tech trade show in Las Vegas last month.</p>.<p>Growing demand for EVs is spurring new entrants into auto markets. Through EVs, Sony is aiming to build a business that will transform cars from transportation machines to entertainment spaces.</p>.<p>Sony has said it will pick new partners for its EV project based on the technology they can bring.</p>.<p>In November chipmaker Taiwan Semiconductor Manufacturing Co (TSMC) said it had agreed to build a $7 billion chip plant in Japan that will supply Sony with semiconductors for its image sensor business from 2024.</p>.<p><strong>Check out latest DH videos here</strong></p>
<p>Japan's Sony Group Corp posted on Wednesday a 32 per cent rise in third-quarter operating profit, smashing analyst estimates.</p>.<p>Operating profit was 465.2 billion yen ($4.05 billion) in the three months to Dec. 31. That compared with an estimated average profit of 351.6 billion yen from nine analysts surveyed by Refinitiv.</p>.<p>Sony hiked its full-year profit forecast to 1.2 trillion yen from 1.04 trillion yen. That prediction is higher than an average 1.09 trillion yen profit forecast from 24 analysts, Refinitiv data showed.</p>.<p>The conglomerate — spanning areas such as entertainment, sensors and financial services — switched to IFRS accounting standards from US GAAP in the current financial year.</p>.<p>Sony is benefiting from strong demand for its PlayStation 5 (PS5) games console which it launched in November 2020. A shortage of semiconductors, however, means it is struggling to produce enough consoles to meet that demand.</p>.<p>The group said last year it will spend 2 trillion yen over three years on strategic investments, including a push to expand subscribers to its gaming and entertainment services as it streamlines its consumer electronics business.</p>.<p>On Tuesday, the company announced it will <a href="https://www.deccanherald.com/business/business-news/sony-acquires-gaming-legend-bungie-for-36-billion-1076793.html" target="_blank">buy Bungie Inc</a>, the original creator of the "Halo" videogame, for $3.6 billion. That comes after XBox console maker Microsoft Corp said last month it will purchase "Call of Duty" maker Activision Blizzard for $69 billion.</p>.<p>The Japanese consumer tech company may also branch out into electric vehicles (EVs), with Chief Executive Kenichiro Yoshida unveiling a new EV prototype and announcing the creation of a mobility business at a tech trade show in Las Vegas last month.</p>.<p>Growing demand for EVs is spurring new entrants into auto markets. Through EVs, Sony is aiming to build a business that will transform cars from transportation machines to entertainment spaces.</p>.<p>Sony has said it will pick new partners for its EV project based on the technology they can bring.</p>.<p>In November chipmaker Taiwan Semiconductor Manufacturing Co (TSMC) said it had agreed to build a $7 billion chip plant in Japan that will supply Sony with semiconductors for its image sensor business from 2024.</p>.<p><strong>Check out latest DH videos here</strong></p>