Since its release in November 2020, PlayStation 5 consoles have been a hard commodity to come by. However, Sony has plans to ramp up production of the console as supply chain snarls ease. Sony is also looking to increase its gaming portfolio by attempting to occupy more PC and mobile markets.
Big Plans for Sony
As stated before, the PS5 went on sale in November 2020. Unfortunately, a global pandemic was and still is raging on. It undersold its predecessor in its second year due to component shortages that have impacted the entire electronics industry. This has led to price hikes from third-party sellers.
However, it is expected to close the gap in year three and overtake the sales of PS4s in their third year. “We’re planning for heavy further increases in console production, taking us to production levels that we’ve never achieved before,” Sony Interactive Entertainment CEO Jim Ryan told an investor briefing.
Sony has forecast PS5 sales of 18 million units in the business year to end-March compared to 11.5 million a year earlier.
He continued by stating that Sony will be looking to expand more into PC and Mobile markets. Despite the fantastic games Sony continues to put out, one of its biggest drawbacks has been the lack of PC titles. When God of War was released on PC, it quickly rose to one of the best sellers on PC.
The company is looking to invest in its live-service games and will add two more live-service games. It is looking to do this by March 2023. As of now, the only live-service title Sony has is MLB: the Show.