Following the PlayStation’s, division faltering and games sales slumping, Sony Group Corp. cut its profit outlook. The company said that it now expects 1.11 trillion yen ($8.3 billion) in operating profit, down from 1.16 trillion yen previously. The gaming and network services group, which houses the PlayStation business, accounted for the full revision, taking a 16% cut from 305 billion yen to 255 billion yen, this Friday. 

According to Bloomberg, Sony revised its outlook on costs related to its acquisition of Bungie Inc., the weaker yen and lower expectations for third-party software sales on the platform. The company’s games underwhelmed in the April-June quarter with 47.1 million sales of PlayStation 4 and 5 titles, down from 63.6 million in the same period a year ago. Playtime across PlayStation products was down 15% in the quarter, Chief Financial Officer Hiroki Totoki said, and PlayStation Plus members fell slightly to 47.3 million.

In an investor call after the earnings were released Totoki said, “While we stand pat on our projection of selling 18 million units of PS5 this fiscal year, conditions surrounding PlayStation 5 are improving,”, and “We plan to front-load shipments for the year-end shopping season.”

 Component makers, logistics specialists and manufacturing machinery providers have expressed scepticism that the supply chain can return to normal operation this year.  South Korean giant Samsung Electronics Co. said a day earlier that it’s adjusting its forecast on an almost daily basis because of the high degree of geopolitical volatility and economic uncertainty.

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