Sony: the PlayStation momentum is waning

Sony: the PlayStation momentum is waning

It’s time for the second-quarter financials for the major groups, and at Sony, the gaming business is taking the brunt of an overall market slowdown.

While 2020 and 2021 have been particularly favorable for console and gaming sales alike with containment periods, despite the strain of production and component availability issues, the effect is now wearing off with consequences for sales.

ps5

Sony thus announced that it had sold 2.4 million PlayStation 5 consoles, compared to 2.3 million in the same period last year, while sales of PS games (nearly 80% of which are digital versions) fell sharply by 28%.

Sales targets for the PS5 still on track

Sony PlayStation 5 Digital Edition, PS5 with 1 DualSense Wireless Controller, Color : White

Fewer major carrier titles, less time spent playing…the causes are known but force a downward revision of financial results forecasts for the gaming business.

With the third quarter still looking down and the digestion of the recently acquired Bungie studio (Halo, Destiny…), the division’s annual profit is expected to fall 16%, reports Reuters.

Gamers are slightly less present on the PlayStation Network, but the situation is no better for Microsoft’s Xbox consoles, confirming an overall market decline.

Sony still hopes to sell 18 million PS5 consoles this year, believing that demand is still there and that improved console availability will help meet the target, helped by reduced supply chain disruptions.

This will require, however, managing to ship 5 million PS5 consoles in not only the current quarter but also the next, which will be no small feat, even with the holiday season.

The launch of several games like God of War Ragnarök or The Last of US Part 1 could help on their end to boost PlayStation game sales, notes The Verge.

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