While the product has been widely accepted and welcomed, the company has had to struggle with a global component shortage. The demand continues to soar but supply chain issues have limited its reach, leaving customers without the consoles.
The head of global sales and business operations at Sony Interactive Entertainment, Veronica Rogers spoke about the issues surrounding the product. She started by thanking the fans for their continuous support, stating that their support drives and inspires the brand.
��Since PS5��s launch, our teams have worked tirelessly to deliver a truly next-gen gaming console that has won the world over and we want to take this time to thank the fans for their support,�� Rogers said. ��Your passion for the PlayStation brand is what drives us and what inspires us to innovate new technology, engineer the future of gaming, and continue creating the best place to play.��
She went on to apologize to those fans who are yet to access the console, revealing that the company is working towards increasing productivity. She shared that the team is working endlessly to make the PS5 console available in large quantities for people who need them.
��To those fans who have yet to get their hands on a console, please know that we are planning on a significant ramp-up in PS5 production this year and we are working endlessly to make sure that PlayStation 5 is available for everyone who wants one,�� Rogers concluded.
By the end of the year, Sony will be looking to put the issues of the PS5 not meeting demand to rest as the company assure the public it is aware of the problems they face.
Although the PS4 has made more sales than the PS5 considering the same duration from their release date. Sony is keen on getting the PS5 sales up by fixing the supply problem. The company predicts that in the fourth year of sales, the PS5 console will have surpassed the PS4.
According to the senior analyst at Niko Partners, Daniel Ahmad, the PS5 is said to have hit the 20 million in sales mark after over one year, six months of release, an approximate total of 568. While this feat was attained by the PS4 in about three months (97 days) less time than it took the PS5 console. PS4 had hit the mark in about one year and three months, a total of 471 days.
“For reference, the PS4 sold 20m units in 15 months and 14 days (471) days,” Ahmad tweeted. “The PS5 hits 20m units after 18 months and 22 days (568 days). It’s worth noting that the PS5 actually hit 10m faster than the PS4 did. But the issues with supply is the reason why it’s behind now.”
He had also revealed that the PS5 hit the 10 million unit market faster than it took the PS4. Clarifying that the supply chain problems were the reason being the sales slowing down.
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Following Sony’s very recent investor presentation, the company predicted that new PlayStation 4 titles would stop being released as early as 2025. It’s bad news for people who have been debating whether or not to buy Sony’s latest hardware due to scarcity or the reseller market. But it does indirectly push players to acquire a new PlayStation 5.
The presentation revealed a lot about Sony’s evolution from the previous generation of consoles to the current one. It also indicated future IP plans and development possibilities for partners.
Its morning business briefing included a graphic that appeared to totally wipe first-party PS4 game income off the charts, as discovered by Push Square.
Sony expects its revenue split in 2025 to be significantly more leaned towards PS5, mobile, and PC, with no mention of PS4. According to Sony, the PS5 outsold the PS4 in its first year before falling behind the PS4 in its second year due to supply problems. The PS5 is expected to eclipse the PS4 in sales in the future, according to Sony.
The supply constraints with the PS5 are of heightened priority that the company is working to overcome. If it does continue to offer first-party PS4 games till 2025, that will be more than any preceding console generation’s post-PS5 support.
This again implies that PS4 owners still have several years to switch to its most up-to-date hardware. Third-party developers must still decide if they want to create games for both the PS4 and the PS5 or just one of the two. Upgrades from PS4 to PS5 games will remain ��10 for first-party titles and at the discretion of the developer for third-party products.
Sony disclosed that in the fiscal year of 2021, the PS4 generated 65 percent of its store sales, as opposed to PS5��s 35 percent sales rate. PS4 accounts for 69 percent of all PS Plus subscribers.
Despite Sony’s promises to make PS5 supply concerns a thing of the past, the problem appears to be gradually resolving. New PS5s are in stock at major UK and US retailers, according to a quick web search.
Sony’s consensus to move away from the PS4 is likely to be determined by its ability to resolve these supply issues. With both Russia’s invasion of Ukraine and the impacts of COVID-19 on production still causing a backlog for new systems to hit the market.
While the PS4 is still earning so much cash from digital sales and in-game purchases through the PS Store. Suspending content releases for the older console would almost certainly result in considerably slower revenue growth. Especially, if so many users are still having difficulties purchasing the PS5 console in two years.
In other PlayStation news, Sony Interactive Entertainment Chief Executive Officer, Jim Ryan announced that the company is developing Horizon Zero Dawn and Gran Turismo TV programs in addition to Twisted Metal, The Last of Us, and God of War.
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