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Sony expects PS5 shortages to cease & sales to stabilize by 2024

PlayStation leadership expects that once issues with COVID-19 shortages and the Russia/Ukraine war are settled, the PS5 will surge in sales.

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As we continue through various issues from world events such as the COVID-19 pandemic and the Russia/Ukraine war, the chokehold on commerce and particularly technology worldwide continues. This is true at Sony as well, where the PlayStation 5 has sagged in manufacturing and sales in its second year. However, Sony is confident the PS5 will find its footing in years ahead. In a recent report, PlayStation executives suggested that the PS5 will overcome shortages and surge in sales by around 2024.

This report was recently delivered by Jim Ryan via Sony’s investor relations website, as spotted by Eurogamer. According to Ryan, while current issues have caused the PS5 to fall behind the PS4 in sales measured by similar time after release, those issues should cease to be a problem by 2024. Sony expects it will overcome component shortages in the near future, which will lead to a surge in PS5 sales, resulting in it overcoming the PS4 sales trajectory by the time 2024 rolls around.

While the PS5 has fallen behind the PS4 in sales in its second year, Sony believes it will catch up by 2024.
While the PS5 has fallen behind the PS4 in sales in its second year, Sony believes it will catch up by 2024.

It is no secret what has slowed PS5 sales. Shortages have bogged down the console since its launch thanks to the semiconductor shortage, as well as COVID-19 restrictions affecting manufacturing and the Ukraine/Russia war impacting sales and business since Sony chose to align with other major companies in ceasing sales and services in Russia for the time being. That said, it also sounds like Sony still has a couple years ahead of it before things become more normalized for its latest console cycle. The PS5 has continued to feature some solid games as it remains out, but getting one is still a difficult prospect.

Nonetheless, it will be interesting to see if Jim Ryan is correct and the PS5 stabilizes in the years ahead. With various stalling factors still in play, it seems outside Sony’s hands to a certain degree. Stay tuned as we continue to follow this story for further updates.

Senior News Editor

TJ Denzer is a player and writer with a passion for games that has dominated a lifetime. He found his way to the Shacknews roster in late 2019 and has worked his way to Senior News Editor since. Between news coverage, he also aides notably in livestream projects like the indie game-focused Indie-licious, the Shacknews Stimulus Games, and the Shacknews Dump. You can reach him at tj.denzer@shacknews.com and also find him on Twitter @JohnnyChugs.

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