TOKYO (Reuters), – Japan’s Sony (NYSE) Group Corp announced Thursday that it saw a 1.1% increase in operating profit in the second quarter. The results beat all estimates. It was due to a better performance from its electronics business, which offsets a decrease in gaming profit.

For July and September, Sony posted a profit of 318.5 trillion yen ($2.8 million). Compare that to Refinitiv’s average 6 analyst estimates, which was 222 billion yen.

Sony, a conglomerate that includes entertainment, sensors, and financial services has switched from U.S. GAAP to IFRS in its current financial year.

Sony intends to sell 14.8 millions of its PlayStation 5 gaming consoles in the current financial year. This goal takes into account global semiconductor shortages.

According to the company, it has sold over 10,000,000 units since its launch last November. This is more than any of its predecessors.

Taiwan Semiconductor Manufacturing Co Ltd has plans to establish a chip-plant in Japan, which will meet the long-term demands. Sony has been reported as saying that it is looking at becoming a partner in this factory.

Sony’s business is involved in a worldwide battle to get consumers attention. Entertainment giants are looking beyond the United States and seeking non-English language creators of content for growth.

BTS from South Korea, the country’s most popular cultural export, announced last week that it had dropped Columbia Records to sign a deal at Universal Music Group (AS.: NV).

There are also challenges such as an investor trying to get rid of Zee Entertainment Enterprises Ltd in India, which casts doubt over the merger talks with Sony.

($1 = 113.5700 yen)