Sony expects to sell 23 million PlayStation 5 in Next Fiscal Year
When publishing its financial results for the third quarter of 2022 (second fiscal quarter), Sony announced that it had sold 3.3 million PlayStation 5s, a sales volume strictly identical to what it had in the third quarter of 2021.
Sony is no longer on the sales target of 18 million PS5s for the fiscal year (which ends March 31, 2023). In the first half of fiscal 2022, Sony sold 5.7 million next-gen consoles, compared to the 5.6 million that were sold in the first half of 2021.
The console’s sales stagnation may be the reaction of the recent price increase (550 euros), but the price increase at least had the merit of increasing turnover by 12% (US$ 4.92 billion). On the other hand, the earnings of the PlayStation branch are in free fall (-49%), mainly due to the acquisition of Bungie and the increase in development costs. As for game sales, they also dropped: 62.5 million PlayStation games were sold in the period, up from 76.4 million last year. Digital sales represent 63% of total sales volume.
Overall, Sony therefore appears to be in a much less dominant position than during the previous generation: PlayStation 5 consoles have been much more available for 2 quarters and yet sales have not increased significantly, a stagnation that is making the business of its biggest competitor, Xbox, whose sales are estimated at between 18 and 19 million consoles. We are far from the ratio of 2.3 PS4 consoles sold for every Xbox One sold. Despite this slow start, Sony still expects to sell 23 million PlayStation 5s in its next fiscal year.
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