PS5 Shortages Should Stabilize and Overtake PS4 Sales by 2024
According to Sony, the future looks bittersweet.
The gaming industry has been hit with shortages of all types. PC gamers were especially hard-hit due to parts constraints, which also impacted console manufacturing companies like Sony’s newest consoles is notoriously tricky to get a hold of them – that doesn’t seem likely any time soon either!
In Sony’s recent financial presentation, it became clear that supply constraints are slowing down sales of the PS5. The company acknowledged this issue and provided statistics on how many consoles were sold compared to the PS4 without any problems whatsoever. The comparative sales have proven that the PS5 outsold the PS4 in its first year. The milestone was reached even before it fell behind due to the microchip shortage.
As stated, the current strategy for Sony is to source from multiple suppliers to continue increasing supply and reduce the gap between demand, which they say has been caused by COVID-19 and conflicts in countries like Ukraine due to the Russian invasion.
The PlayStation 5 will need to do well to intercourse with Sony’s financials. Console sales alone aren’t enough, as PS5 video games tend to sell wherever PS5 consoles sell. So far, Sony has missed its PS5 sales goal by 3.3 million units. So getting the console back in stock is of a high value, and will probably remain the primary goal for Sony, hence the sourcing of multiple suppliers for increased vitality.
