Sony on Thursday raised its operating profit forecast for the year ending in March by 2% to 1.34 trillion yen ($8.70 billion) as it reported strong growth at its key gaming unit. Once best known for consumer electronics such as the Walkman,

Sony has prioritized acquiring more content and intellectual property rights at a time when the company’s hardware efforts are stagnating.

The Japanese entertainment and electronics company raised its annual earnings projections after a rise in third-quarter net profit on the strength in its game and music businesses.