May 11, 2021, 2:02 pm | Read time: 2 minutes
Since its launch, demand for the PlayStation 5 has significantly exceeded supply. Sony is struggling to keep up with production–and this is unlikely to change anytime soon.
In fact, Sony can be pleased because, despite the COVID-19 pandemic and the strained economic situation, demand for new gaming consoles remains consistently high. So high that the company can’t keep up with production. The PS5 is only available in batches, and it’s difficult to purchase one online or in retail stores.
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Limited Availability of the PS5 Could Last Until 2023
Last week, we reported that Sony might change the design of the PlayStation 5 to meet its sales target. In an annual report, Hiroki Totoki, Sony’s CFO, stated that they aim to sell about 15 million units in 2021. However, Totoki also acknowledged: “Can we drastically increase supply? No, that’s unlikely.” Now, Bloomberg also reports on Sony’s figures and provides us with new information. According to this, the company will still not be able to meet the demand for the console in 2022.
Since its launch in November 2020, the PS5 has been scarcely available. One reason for this is the ongoing semiconductor shortages, which primarily affect the automotive, smartphone, and gaming industries. And when the console is available, stocks are quickly bought up by “scalpers” and sold at exorbitant prices on platforms like eBay.
Supply Can’t Keep Up with Demand
Due to the uncertain situation, there is no official forecast for when the PS5 might be available in sufficient quantities. Hotoki does not expect a decline in demand this year. His outlook for 2022: “Even if we secure a lot more devices and produce many more units of the PlayStation 5 next year, our supply cannot catch up with demand.”
Bloomberg further reports that Sony plans to buy back its own shares worth up to 200 billion yen (about 1.5 billion euros). Recently, revenue fell short of market analyses. Sony expects a revenue decline of 4 percent in 2021. However, there are hopes in the industry that the high demand for the PS5 could counteract the decline. This can only work, of course, if Sony can meet this demand.