Sony is struggling to keep up with the demand for the PS5. This is according to a new report from Bloomberg that cites a recent analyst briefing by the company. According to analysts who reported on the briefing, Sony confirmed that while PS5 stock is being sold around the world every couple of weeks, the company cannot keep up with the demand for the console.
Hikori Totoki, Chief Financial Officer for the Sony Group claims that even if the company were to somehow increase its supply in 2021, they would not be able to catch up to the demand for the PS5.
Sony also admits that it does need to greatly improve the production of the PS5 as soon as possible in order to get more stock into stores worldwide. This is to help tackle the massive supply shortages the company faces worldwide.
“I don’t think demand is calming down this year and even if we secure a lot more devices and produce many more units of the PlayStation 5 next year, our supply wouldn’t be able to catch up with demand.”
Despite the lack of PS5 stock, Totoki says that the console has exceeded Sony’s expectations and that sales have skyrocketed. However, Sony has not been able to capitalize on the lockdown as much as they would have liked. We previously reported that PlayStation Network users actually dropped from 114 million to 109 million year on year. Sony hopes to increase this number again this year and use the PS5 as a means to do so. They hope to sell 15 million PS5 consoles by April 2022.
Sony says that the lack of PS5 stock, while being a bad thing, has also helped strengthen the brand’s presence in the industry. The fact that you can’t buy one sends a strong message to the industry and in a way, has helped make it even more sought after.