Sony: “PS5 enters the final stage of its life cycle” – did not meet the latest sales target

the Sony It announced its financial results for the fourth quarter, revealing that it no longer considers its goal of selling 25 million during fiscal year 2023 to be achievable. Specifically, the company has revised its expectations and expects to eventually sell 21 million. PS5 consoles, despite major promotions lasting for several months in 2023.

During the third quarter of fiscal 2023, Sony sold 8.2 million consoles. This number is up significantly from the 6.3 million PS5 units sold in the same quarter of the previous fiscal year. However, according to Bloomberg information, 8.2 million is about 1 million less than Sony's expectations, despite the release of big exclusive titles such as Marvel's Spider-Man 2 and the launch of the new PS5 Slim model.

Speaking about the future, Sony Senior Vice President Naomi Matsuoka indicated that the PS5 is about to enter the final stage of its life cycle and therefore its sales are expected to begin to decline from now on, saying:

Looking to the future, the PS5 will enter the final stage of its life cycle.

Therefore, we will focus more on the balance between profitability and sales. For this reason, we expect the annual sales rate of PS5 consoles to start declining from the next financial year.

For your information, there have been rumors for months that Sony is preparing to launch the PS5 Pro soon, an upgraded version of the console with more power. If this information is true, it remains to be seen how it will impact the sales trajectory, considering all the new information that Sony has shared.

Sony also announced that PS5 sales have now reached 54.8 million.