Will there be enough PlayStation 5 units for gamers this year?

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News has circulated that Sony has cut its estimated PlayStation 5 production for this fiscal year by 4 million units.

Sony Corp. previously reported last April that the PlayStation 5 units will likely be limited for this year. However, this recent news from Bloomberg may put its other console competitors in the lead.

With the PlayStation 5 event only a few hours away, Sony fanatics might get a little nervous if they will be able to get their hands on the console this year.

Sony stock price tanks upon the announcement

The production cut was due to issues with its custom designed system-on-chip for the new console. Sony Corp. stock price dipped 2.41% at the market close in wake of the news.

However, the PlayStation 4 surprisingly did well this year as well amid the pandemic. More than 112 million PlayStation 4 consoles have been shipped worldwide and Sony also has over 40 million PlayStation Plus subscribers and 2.2 million PlayStation Now subscribers.

The Tokyo tech giant also raked in over ¥599 million [AU$7.73 million] in game and network services revenue in their first quarter earnings report.

In conclusion, cutting the PlayStation 5 production may not hurt the entire Sony sales in the long run since they are being carried in other aspects in terms of game sales and network subscriptions.

Console competitors are stepping up

However, the timing of Sony reporting about the reduced PlayStation 5 console production has made other competitors shine.

Microsoft has already revealed their prices for their Xbox Series S and X Series last week which are almost at par with the leaked PlayStation 5 prices.

There are also reports that Nintendo is also planning to upgrade their Nintendo Switch console with better components as well as 4K support.

It looks like its going to be a race to who will get the PlayStation 5 first while the rest who were not able to pre-order would have to wait next year.

Featured image courtesy of Sony

Alec Padua

Alec a former mobile app developer turned independent singer-songwriter and busker based in the Philippines, who goes by the stage name "Alex Corner". He has released songs on Spotify and other music digital platforms. A self-taught trader and financial market enthusiast, he also started his own YouTube channel and blog called "The Trading Comedy" where he documents his trading journey in the Philippine Stock Market and beyond. He is also a casual gamer and streamer who enjoys FPS, RPG, and strategy games as well as conducting live charting sessions in the financial markets.

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