During Sony’s public earnings call on April 28, CFO Totoki stated that the maker plans to ship more than 14.8 million PS5 consoles in 2021, doubling the number of consoles sold since its November 2020 release. However, due to the semiconductor shortages that all tech makers are currently facing, Sony has not increased its production output.
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Due to the Covid-19 pandemic, most of humanity had to remain indoors due to lockdowns and social distancing rules implemented by governments. This positively affected the tech industry, causing earnings to rise and stock values to soar. Sony saw a 62 percent share price increase. Investors were told during the earnings report call to expect income to drop at least 4 percent compared to last year at this same time, which caused Sony stock to drop back below $100. In February, Sony reported that since its release, the PS5 had sold 4.5 million units and pointed out that sales were helped by its “strategic price point,” which was below the cost of actually manufacturing the PS5. The PS5 has been in short supply since it was released, not just due to supply chain issues. Plus, you have scalpers who monitor sales and availability and then purchase most of the retailer stock as soon as it becomes available with the intent to price gouge consumers when reselling. There are entire Reddit, Discord, and other social media pages dedicated to the practice. At this point, it’s probably easier to find a last-minute date for prom than find a PS5. happy console hunting, folks.
