Production will be increased to meet anticipated demand.
Sony has released its most recent financial results report and there are some pretty exciting results for the three months to the end of June. The bottom line is that the company is going to kick things up a notch in terms of PS5 hardware production and consumer engagement, to try and rectify a bit of a recent downturn.
First-quarter financial results show Sony says total playtime and software sales were down year-over-year, which Sony attributes to a decline in the rapid growth of the games market that had previously caused during the COVID-19 pandemic. . Now that people are re-engaging much more with the outside world, Sony believes this has led to a slowdown in in-game engagement and, therefore, sales.
To remedy things, Sony plans to push production of the PS5 console a bit ahead of this year’s holiday season, as well as prioritizing its recently launched PlayStation Plus subscription model to customers.
Given this situation, we intend to take steps to increase user engagement in the second half of the fiscal year, during which major titles, including proprietary software, are expected to be released, primarily in increasing the supply of PlayStation®5 (“PS5™”) and promoting the new PlayStation Plus service.
Improving production is clearly a priority for Sony, which will no doubt have been somewhat limited on the console release front due to previous lockdowns in Shanghai, where many of the parts needed for the PS5 are produced. However, with those now lifted, the company plans to dramatically increase its production of units, meaning more buyers will actually be able to get their hands on the sometimes elusive PS5 hardware. Sony remains confident of a recovery in hardware sales, reiterating its forecast of 18 million units of PS5 sales this fiscal year. We’ll just have to wait and see if its production capabilities can match its predictions.
You can read the company’s latest financial results report in full to get a broader view of how things are going at Sony right now.