Sony Reduces PS5 Supply Expectation for Fiscal Year

Sony Reduces PS5 Supply Expectation for Fiscal Year

Amidst ongoing supply shortages, Sony releases new PS5 supply expectation for remainder of fiscal year that is lower than originally thought.

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Sony Reduces PS5 Supply Expectation for Fiscal Year

The PS5 has had a killer first year between its games and sales, but unfortunately not all those who have wanted a console have been able to get one. It doesn’t seem like the supply will be getting better anytime soon either, as Sony’s new PS5 production has lowered for the rest of the fiscal year.

Many businesses and communities were affected by the COVID-19 pandemic, and as many people turned to gaming as a past time, the industry has been unable to keep up with demand. From the ongoing microchip shortage preventing the manufacturing of consoles, to scalpers and bots hogging sales and boosting prices, purchasing game consoles from any brand has been very difficult. Some in-person businesses recently have had PS5 units to sell which resulted in massive lines and still many people without a console. Sony previously let fans register for an opportunity to buy a PS5 straight from its website, just in time for the holiday season.

A new article from Bloomberg details Sony’s new lesser PS5 production estimate for the rest of the fiscal year. Takashi Mochizuki writes in the article titled, “It’s Going to Get Even Harder to Buy a PlayStation 5,” that according to people familiar with PS5’s production operations, that wish remain unnamed, Sony has reduced its supply target for this fiscal year from more than 16 million units to about 14.8 million units. The decrease in production is attributed to “logistics issues” and the aforementioned parts shortages, with worries that another COVID-19 outbreak would further damage the company’s supply. This past spring the PS5 became the fastest-selling console in American history, surpassing the Nintendo Switch.

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Speaking of the Switch, Nintendo made a similar production announcement not too long ago. Prior to Sony’s announcement with the PS5, Nintendo lowered its Switch production estimate for the remainder of the fiscal year at the beginning of the November, noting it would have about 20% less consoles available through to March. With the recently released Nintendo Switch OLED, as well the original Switch, and Switch Lite, it is unclear the breakdown of what consoles Nintendo would be prioritizing production of. Similarly, it is unknown how many units between the Regular and Digital PS5 variants Sony is producing, though the former will likely make up the majority.

This development is a bit concerning,surely, but it also isn’t entirely unexpected. The trend for the last year across the industry has shown a difficulty in both manufacturing and attaining video game consoles, so unless the chip shortage was fixed, the production side of things was going to remain stinted. It is disappointing that there are many people still without a PS5 console, but there is not much that can be done than be patient, and hope to be lucky. It is just a matter of time before Microsoft announces its reduced Xbox Series X/S supply estimate, joining the Switch and PS5.

Source: Bloomberg

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