Sony Says PlayStation 5 Shortages Will Last Into Next Year
Sony has warned that PlayStation 5 shortages will last into next year.
As per a new report by Bloomberg, Sony chief financial officer Hiroki Totoki addressed a group of analysts during a briefing, informing them that shortages would likely continue for the foreseeable future.
The widely coveted console has been low in stock ever since its November release, partly due to shortages of components such as semiconductors. At the time of writing, Sony hasn’t offered an official estimate for when supplies are expected to normalize.
In late April, Sony reported that 7.8 million units of PS5s had been sold through March 31, with the company aiming to sell a minimum of 14.8 million units within the current fiscal year.
These figures would keep the PS5 on track to match the trajectory of the PlayStation 4 console, which has sold more than 115.9 million units at the time of writing.
Several people who attended the briefing and who chose to remain anonymous told Bloomberg that Totoki had made the following remarks:
I don’t think demand is calming down this year and even if we secure a lot more devices and produce many more units of the PlayStation 5 next year, our supply wouldn’t be able to catch up with demand.
Totoki reportedly informed analysts that Sony will need to ramp up production as soon as it can, ensuring that there will be enough consoles in shops.
Demand is anticipated to remain high regardless of the coronavirus situation, Totoki reassured an analyst who had expressed concerns about Sony’s ability to capitalize on the home entertainment hike sparked by over a year’s worth lockdowns and restrictions.
We have sold more than 100 million units of the PlayStation 4 and considering our market share and reputation, I can’t imagine demand dropping easily.
However, as per Bloomberg, Sony’s latest earnings report would suggests that stay-at-home demand is now levelling off.
Monthly active users on PlayStation Network have reportedly dropped to 109 million towards the end of the January to March period, falling from 114 million a quarter earlier. Sales of full games also saw a decline in this period from a year earlier.
Production of Nintendo Switch systems has also taken a knock due to semiconductor shortages. This component has been tricky to get hold of for the better part of a year and it’s thought this situation will continue for the foreseeable future.
Both Sony and Nintendo have been rumoured to have planned hardware revisions for both the PS5 and Switch. However, neither company has given confirmation as to what exactly these upgrades will involve.
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