Game consoles don’t last forever, but the Sony PlayStation 5 isn’t your average game console. When it was released in 2020, it saw so much demand that the Japanese gaming giant took three years to finally make enough available consoles for all the eager buyers.
But every console has a life span. On Wednesday, Sony announced that its 4-year-old PlayStation 5 was missing sales targets, and that it will likely struggle even more this year. The company saw weaker-than-expected holiday sales, and cut its PS5 sales forecast for the year ending in March to 21 million units, down from an expected 25 million. The company also said it expects a gradual decline in unit sales in the next financial year, in part because it doesn’t plan to release any of its own major franchise titles during that time.
“Looking ahead, PS5 will enter the latter stage of its life cycle,” Naomi Matsuouka, Sony senior vice president, said in a conference call, as reported earlier by Bloomberg.
Whenever any gaming executive discusses the future of consoles like the PlayStation, Microsoft Xbox Series X or Nintendo Switch, consumers take notice. These machines cost hundreds of dollars, with games running around $70. To make those purchases feel worthwhile, Microsoft, Nintendo and Sony aim to offer major console upgrades about every seven years.
Sony’s plans for the PS5
Sony’s statement didn’t define what exactly it means for the PS5 to enter “the latter stage of its life cycle,” other than to say that it will “put more emphasis on the balance between profitability and sales.” And the company didn’t immediately respond to a request for comment.
The good news is that broadly, Sony has offered years of support for older consoles. The PS5, for example, can play “an overwhelming majority” of PS4 games, no matter if they were bought on disc or digital. We don’t know yet if the inevitable PlayStation 6 will offer the same capabilities, but it’s likely Sony will want to keep that feature.
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