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 PlayStation 5 (PS 5): Sony Group has informed analysts that there is a shortage of its popular gaming console, the PlayStation 5. The company has further stated that this supply shortage may continue through 2022, which could impact its ability to achieve sales targets for its latest gaming product. As of March 31, Sony Group Corp had sold over 7.8 million units of the PlayStation 5.

Sony PlayStation 4 Background

The company aims to sell a minimum of 14.8 million units in the current fiscal year to maintain momentum and achieve sales figures comparable to the PlayStation 4. These numbers are expected to be a significant factor in achieving the company’s sales target. 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:

As per a Bloomberg report, Sony has informed analysts about facing challenges in keeping up with the high demand for its latest gaming console, the PlayStation 5. The company officials cited two main reasons for this issue – component shortages and excessive demand. There is currently no official estimate from the company as to when the supply chain will normalize, and it’s possible that this shortage may persist 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

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