The PlayStation 5 (PS5) is one of the most popular gaming consoles in recent history, with the console outselling the Xbox Series X as of March 2022 worldwide, per VGChartz.
Unfortunately, the console's popularity could be working against it as supply chain issues keep it away from many PlayStation fans and interested customers.
However, that fact could soon be a thing of the past.
Sony Interactive Entertainment president and CEO Jim Ryan mentioned in the company's recent financial presentation that the company has come up with solutions to solve the PS5's supply chain issues, per Eurogamer.
Should Sony's solutions work, the PS5's supply will normalize by 2024, overtaking the PlayStation 4's sales at that time.
Sony's PS5 Supply Issue Mitigation Measures
According to the slideshow used in Sony's financial presentation, Ryan mentioned that during the second year since the PS5's release (2022), the PS5 undersold due to supply constraints caused by the ongoing COVID-19 pandemic, despite the easing of quarantine restrictions, and the impact of Russia's conflict with Ukraine on the console's logistics and potential parts inventory.
Additionally, the chip shortage induced by the COVID-19 pandemic played a critical role in the PS5's supply chain issues, wherein quarantine measures cut semiconductor plants' available workforce to an absolute minimum to prevent the virus' spread, per Game Rant.
Sony noted that it missed its PS5 target by 3.3 million consoles in a recent earnings call., per IGN.
However, Ryan believes that the mitigation measures will help the sales of its next-gen console to close the gap with the PlayStation 4's (PS4) in the console's third year, 2023. These mitigation measures include sourcing multiple suppliers for greater market flexibility in unstable market conditions and the ongoing logistical negotiations to maintain optimal PS5 delivery routes.
Should Ryan's mitigation measures work as intended, the PS5's sales will eventually keep up and overtake the PS4's, as was the case when the console was back in stock during last week's sales increase of Horizon Forbidden West, per a separate Eurogamer article.
Until then, PS5 wanters will have to wait until the gaming console's supply to normalize to get one without further difficulty and complication.
PS5 sales are also expected to rise due to the upcoming release of the PlayStation VR 2 (PSVR 2) for the net-gen console, which vastly improves on the shortcomings of the original PlayStation VR, per PC Gamer.
Another factor that could see the PS5's sales increase is the revamped PS Plus subscription service, which will be available in June and gives subscribers access to classic PlayStation games like Dino Crisis.
Sony's Other Expectation in the Immediate Future
Aside from the PS5's sales overtaking the PS4 in 2024, Sony wants to break away from its console-centric approach to a future where "large elements of [the company's] community extend beyond the console." These extensions include the addition of more platforms like the PC and mobile, virtual reality, and the metaverse, as well as providing players with better experiences with the PS Plus Discord integration and PlayStation Direct.
To do so, it plans to co-develop top IP with industry leaders by partnering with respected, established, and successful mobile developers and extending its franchises to more players and regions.
Sony also added that it plans to establish a network of internal studios and projects and build a world-class centralized publishing team and tools.
