Sony predicts Hardware shortages to ease up soon and PlayStation 5 sales to overtake PS4 by 2024

    Hardware shortages have impacted industries of various kinds all around the world. Parts shortages hurt PC gamers particularly heavily, affecting console production as well. The latest platform from Sony, the PlayStation 5, has a reputation for being tough to obtain, and this does not appear to be changing until approximately 2024.

    Sony admitted supply concerns with PS5 sales in its recent financial presentation(opens in new tab), which was uncovered by Eurogamer. A graphic in the presentation showed the sales of the PS4 and PS5 systems in comparison. While the PS5 outsold the PS4 in its initial year, supply issues caused it to fall behind the next year. Due to the shortages, Sony increased PS4 production, which likely helped.

    The graph goes on to depict Sony’s third-year estimates, in which it hopes to narrow the sales gap between the PS4 and PS5. That means the PlayStation 5 isn’t expected to reclaim the top spot in Sony’s console sales until 2024. That’s also when Intel CEO Brian Krzanich believes the chip scarcity will finally relieve.

    Because both Covid and Russia’s invasion of Ukraine has been mentioned as ongoing barriers to boosting supply, Sony’s current approach entails sourcing from a variety of sources. Given that the challenges stifling Sony’s sales appear to be supply-related rather than demand-related, it’s understandable that the business is doing everything it can to close that gap.

    And Sony has every motive to make the PS5 a success. Aside from console sales, the financial report demonstrates that when consoles are available for purchase, there is a noticeable surge in in-game sales. There’s also the new PlayStation VR 2, which is expected to be a significant advance over past virtual reality efforts and will require the PS5.

    This, however, is a tribute to the PS4’s long shelf life, especially when compared to the PS3 before it. According to these estimates, digital PS4 sales, particularly those in Free to Play games, account for a significant portion of Sony’s profit, with games like Fortnite and Genshin Impact being singled out for their financial contributions. These figures may not change for a time, as the PS5 is still two years away from catching up to PS4 sales.

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