PS5 shortages will ease and sales will overtake PS4 by 2024, Sony says

Hardware shortages across the world have affected industries on all sides. PC gamers have been particularly hard hit by parts shortages, which have also affected console manufacturing. Sony’s latest console, the PlayStation 5, has been notoriously difficult to master, and it’s not expected to normalize until around 2024.

In Sony’s recent report financial presentation (opens in a new tab)(marked by Eurogamer (opens in a new tab)), the company has acknowledged supply issues when it comes to PS5 sales. The presentation included a slide showing the comparative sales of the PS4 and PS5 consoles. While the PS5 outsold the older PS4 in its first year, it fell behind the following year due to supply constraints. Sony has also increased its PS4 production due to shortages (opens in a new tab)which probably helped.

The chart then shows Sony’s projections for the third year, in which it hopes to close the gap between PS4 and PS5 sales. This means Sony doesn’t expect the PlayStation 5 to retake the top spot in the company’s console sales until 2024. mitigate. (opens in a new tab).

Covid and Russia’s invasion of Ukraine have been cited as continued obstacles to increasing supply, so Sony’s current strategy is to source from several different suppliers. Given that the issues hampering Sony’s sales appear to be supply rather than demand related, it makes sense that the company is doing all it can to close this gap.

And Sony has plenty of incentives to make sure the PS5 performs well. Besides console sales alone, the financial report shows that there is a marked increase in game sales when there are consoles available for purchase. There’s also the new PlayStation VR 2 (opens in a new tab) it should be a huge improvement over previous VR efforts and will require the PS5 to run it.

But it’s also a testament to the solid lifespan of the PS4, especially compared to the PS3 that preceded it. These reports show that PS4 digital sales, including those of Free to Play games, account for a good portion of Sony’s profits with games like Fortnite and Genshin Impact known for their financial contributions. With the PS5 still potentially 2 years away from PS4 sales, those numbers might not change for some time.

About Dorie Castro

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