Sony misses PS5 sales target as console enters ‘latter stage of its life cycle’

The new PlayStation 5 slim and standard PlayStation 5 standing vertically side by side on a table. — *The original PS5 next to last year’s slimmer redesign.* | Photo by Antonio G. Di Benedetto / The Verge

Sony now expects to sell 4 million fewer PS5 consoles in its 2023 fiscal year ending March 31st compared to previous projections, Bloomberg reports. The revision came as part of today’s third-quarter earnings release which saw Sony lower the PS5 sales forecast from the 25 million consoles it expected to sell down to 21 million.

While PS5 sales were up in Sony’s third quarter, increasing to 8.2 million units from 6.3 million in the same quarter the previous year, Bloomberg notes that this was roughly a million units lower than it had previously projected. That’s despite the release of the big first-party title Spider-Man 2, strong sales of third-party titles, and the launch of a new slimmer PS5 in November.

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