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Sony PlayStation 5 shortage could continue further till 2022

According to a report from Bloomberg, the company is having difficulties in keeping up with the huge demand for its latest Sony PlayStation 5 consoles.

Sony Group has official informed the group of analysts about the shortage of its popular PlayStation 5 gaming console. The company has also added that this shortage of supply can continue through 2022. This will majorly affect the company’s ability to boost the sales targets for its latest gaming product. In late April, Sony Group Corps has officially announce that it has sold more than 7.8 million units of PlayStation 5 till March 31. The company also mention about its aim to sell a minimum of 14.8 million units in this current fiscal year. These numbers are expected to help the company in continuing momentum. It will also help in achieving the sales target to reach the sales figures of PlayStation 4. To recall, the company has sold more than 115.9 million units of Sony PlayStation 4 console.

Story of Sony PlayStation 5: Shortage in supply, high in demand
Story of Sony PlayStation 5: Shortage in supply, high in demand

Shortage of PlayStation to continue:

According to Bloomberg report, the company told the group of analysts about having difficulties in keeping the pace with the strong demands for its latest Sony PlayStation 5 console. The company officials told that this is majorly because of the component shortages and secondly due to excessive demand. Additionally, there is no official estimate that has been provide by the company as to when the supply chain will be normalize. However, it is likely that this shortage could extent until next year.

According to Chief Financial Officer, Hiroki Totoki, The demand for the all new Sony PlayStation 5 console is not likely to come down this year. This will continue even if the company secure more device and produce many more units of PlayStation 5 until next year. The supply chain would not be able to catch up with the increasing demand from the consumers. During the briefing, he told analysts that company is likely to ramp up the production as soon as possible. This will ensure their consoles are available in stores.

Sony PlayStation 5 and its popularity:

While briefing to Bloomberg, he added that the demand will continue to remain high regardless of COVID-19 pandemic situation. Protecting his company, he informs that the company is fully capable to capitalize on the stay-at-home entertainment surge. This is happening because of lockdowns and emergency orders given by various countries. According to company’s latest earning reports, the stay-at-home demand is levelling off day by day. Monthly active users of PlayStation Network fell to 109 million at the end of January-March period. To recall, 114 million users were last record in earlier quarter. Also, the sales of the games has seen a decline. Also Read: Apple iPhone 13 could launch in September 2021: Sources

Written by Pulkit Sharma

I love working on WordPress, Web Designer from past 7+ years working mainly on mobile & web apps. Always keen to be part of interesting projects.

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