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Sony to double down on PS5 production and expand its games portfolio

Sony to double down on PS5 production and expand its games portfolio
Sony to double down on PS5 production and expand its games portfolio

Sony Group Corporation is reportedly planning to increase the production of PlayStation 5 consoles as supply chain woes start easing. The multinational conglomerate is also exploring expanding its games portfolio, adding more titles to mobile as well as on PC.

It is worth noting that the PlayStation 5 went on sale back in November 2020 and undersold the PS4 during its second year given the component shortages which have severely hampered the entire electronics sector. However, speculations have it that the PS5 will close the gap in the upcoming three years and will manage to overtake its predecessor’s sales in the following period.

Jim Ryan, the CEO at Sony Interactive Entertainment was quoted saying that the group is planning to double down on console production and will focus on achieving a milestone in production levels. The CEO added that the company will be focusing on single-player games that are exclusive to its platform. Mobile and PC game titles are also in the works and will be offered apart from live-service games.

It is estimated that both PS4 and PS5 titles will comprise around two-thirds of releases this year, with PC and mobile titles making up at least half of new Sony games in 2025. The company expects to sell 18 million PS5 units in the next business year as compared to the 11.5 million units it sold the previous year.

Ryan said that the consumers will continue to play the games despite the development or the growing popularity of the metaverse. Most individual players would prefer to play games the way they have been for the past 30 years.

Despite the shift to mobile and PCs, PlayStation will focus on keeping up with the evolving industry trends that have lately seen widespread integration of cloud technologies and the robust computing power of smartphones.

Source Credits –

https://www.channelnewsasia.com/business/sony-ramp-ps5-production-and-broaden-games-portfolio-2708106

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Vinisha Joshi

Vinisha Joshi

Despite graduating with an engineering degree in electronics and communication, Vinisha Joshi chose the road less travelled, and decided to pursue her career in content writing . Currently, she pens down articles for cuereport.com and a few other distinguished news platforms, pertaining to business and finance.