Sony Group Corporation presented its financial results for the third quarter of fiscal year 2024 at a conference this morning. At the presentation, the company's presidents and directors personally addressed investors, both in person and via videoconference, to present the company's earnings review and medium- and long-term outlook.
In addition to changes to the board and showing year-on-year growth in all business segments, the meeting also addressed the concerns of many shareholders about the new trade policies being implemented by the recent US government. Specifically, those referring to the new tariffs on imported and foreign goods, which could increase the final price of the product by up to 25%. Sony plans to respond to this, in the case of its gaming division with Sony PlayStation, with new factories installed in the United States to produce and assemble PS5s in American territory.
With these new 'Made in USA' PS5s, totally identical to those produced in Asia, they will be able to maintain the same pricing policy as in the rest of the world in order to continue competing, and also to respond more efficiently to the demand for stock in the country.
What do you think of this move by Sony Group regarding the Trump Administration's tariffs?