Sony doesn’t say no to an expected PS5 price hike

The PlayStation 5 is the fastest gaming console ever. In an ideal world, it could have end up outselling any console in history at least in its first year. Unfortunately, Sony couldn’t keep up with the request. The COVID-19 pandemic had an adverse impact on a lot of industries. This also affected the manufacturing process of the PS5. Due to supply chain issues and other issues, the PS5 didn’t able to maintain its momentum. This is the case for the PS5 sales after Sony refused to allow a possible hike in the price of the PS5.

Sony, which is unlikely, could make future consumers pay more for a PS5.

Don’t make any mistake. The PS5 is reasonably priced. Even the PS3 has the honor of Sony’s biggest pricing blunder. The PS2, a best-selling gaming console, achieved the best success, but despite the fact that Sony was able to get the $499 console in 2006, the company didn’t have it. Sony sold a very good deal of PS3 in the early years, but its high price point opened the way for its competitor. In particular the Xbox 360 was the biggest benefit factor.

Sony could mitigate a possible price hike by releasing a mid-cycle refresh or a ugprade like the PS4.

Exceptionally, why are the fans of the PlayStation today concerned? Sony’s refusal to give this stand on a price hike?

According to the company’s latest earnings briefings, Sony revealed that it only sold 21.7 million units of PS5 since November 2020. The company sold 25.4 million PS4 units during the first quarter of the console. This represents a 28.571% decrease in sales, which is a lot considering how the PS5 flew off store shelves at the start of the day. First, Sony can only blame itself for the problem. Even if the COVID-19 pandemic was unprecedented, Microsoft can keep up with the demand for the Xbox Series S/X. This has been successful in the fact that the Xbox Series S/X has outsold many times earlier this year, including in Sony’s home country, Japan.

When asked about the possibility of raising the price of the PS5 to account for the still-ongoing chip shortage and higher cost of manufacturing as well as shipping, what it was said to CFO Hiroki Totoki (via VGC): “I think we could raise the price of the car.

The price of the PS5 will increase a possibility, at that point there’s no speecific information I can share with you about the prices.”

Horizon: Forbidden West will be one of the last few Sony titles that will be available on the PS4 and the PS5.

I think Sony is looking forward to setting new records with the PS5 after it ended the lifecycle of the PS4. In that report, Sony claims it will continue with its plans to ship 18 million PS5 units before the current fiscal year ends. If that happens, the PS5 will set a new record for the majority of the PlayStation units sold in a year. Sony are trying to adjust its financial projections for the year after an early decline in Q1 2022. Sony attributes the downward trend to a “sickness in games sales” and lack of games for first party and players spend more time playing video games.

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