- Sony said in a new earnings and guidance report that the launch of the PlayStation 5 is still underway for the holiday season.
- The company acknowledged that the new coronavirus posed several challenges for PS5 development, but the release plans have not been altered.
- Sony did not reveal any actual details about the launch, so the PS5's price and release date are secrets to be discussed later.
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The PlayStation 5 is one of the most popular products of the year, and Sony has just confirmed that it plans to launch the new console in time. Like the Xbox Series X, the PS5 will launch in the 2020 holiday season, and Sony has not disclosed an actual release date. But the Japanese giant said in a recent earnings report that plans to launch the gaming platform remain in place, despite the new coronavirus health crisis that has disrupted all aspects of life in recent months.
Microsoft said a few weeks ago that the X Series will hit stores during the holiday season. Microsoft also recognized the challenges of putting the finishing touches on the console while working from home, suggesting that launch delays are always possible, depending on how the health crisis evolves. The reports that followed indicated that Sony also plans to release the PS5 as originally scheduled, although PS5 stocks may be low at first. The same reports say the new PlayStation won't be postponed, unless Microsoft also delays its product.
Sony released its earnings report for the fiscal year ending March 31 on Wednesday, as well as the outlook for the following fiscal year. That is also a report that was delayed due to COVID-19, a document we hoped would contain some references to the new console.
Sony revealed that gaming revenue decreased by 14% compared to the previous year, mainly due to the drop in PS4 gaming and hardware sales. This further underscores the importance of the PS5 launch, which could help Sony increase sales of both hardware and software. That means the company can manufacture enough units to meet demand at launch.
Sony also noted that COVID-19 had a slight impact on PS4 production, but short-term demand is being served by existing inventory and "sales are trending well." The outbreak had a positive impact on game sales, as well as the numbers of PS Plus and PlayStation Now subscribers, which have increased significantly. ”
Sony also addressed the PlayStation 5 in the document. "Although factors such as employees working from home and restrictions on international travel have presented some challenges regarding part of the testing process and qualification of production lines, development is progressing with the launch of the console slated to the 2020 holiday season. " Sony said. The company did not comment further on the PS5 in the earnings and guidance report.
A series of reports said in recent weeks that Sony will hold a PS5 event in early June at which the console's design could be revealed. A rumor also said that pre-orders could start after the event. However, the coronavirus crisis could affect some of those plans. If these reports and leaks are accurate, the PS5 release date and price could be revealed next month.