- Sony said in a new earnings and guidance report that the release of the PlayStation 5 is still on track for the holiday season.
- The company acknowledged that the novel coronavirus posed various challenges to PS5 development, but the launch 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 that will be addressed at a later time.
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The PlayStation 5 is one of the hottest products of the year, and Sony just confirmed that it plans to launch the new console on schedule. Like the Xbox Series X, the PS5 is due in holiday season 2020, and Sony hasn’t revealed an actual release date. But the Japanese giant said in a recent earnings report that the plans to launch the gaming rig are still in place, despite the novel coronavirus health crisis that altered every aspect of life in the past few months.
Microsoft said a few weeks ago that the Series X will hit stores during the holiday season. Microsoft also acknowledged 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. Reports that followed said that Sony plans to launch the PS5 as initially scheduled as well, although PS5 stock might be low at first. The same reports said the new PlayStation will not be postponed, unless Microsoft delays its product as well.
Sony on Wednesday released its earnings report for the fiscal year that ended on March 31st, as well as the outlook for the following fiscal year. That’s also a report that was delayed because of COVID-19, a document that we expected to contain some references to the new console.
Sony revealed that revenue from gaming decreased by 14% compared to the previous year, primarily because of the drop in PS4 hardware and game sales. This further underscores the importance of the PS5 launch, which could help Sony increase sales of both hardware and software. That’s assuming the company can make enough units to meet demand at launch.
Sony also noted that COVID-19 had a slight impact on PS4 production, but demand in the short-term is being addressed by existing inventory and “sales are trending well.” The outbreak had a positive impact of game sales as well as PS Plus and PlayStation Now subscriber numbers, which have significantly increased.”
Sony addressed the PlayStation 5 in the document as well. “Although factors such as employees working from home and restrictions on international travel have presented some challenges in regards to part of the testing process and the qualification of production lines, development is progressing with the launch of the console scheduled for the 2020 holiday season,” Sony said. The company made no other comments regarding the PS5 in the earnings and guidance report.
A series of reports said in the past few weeks that Sony will hold a PS5 event in early June where the console’s design might be revealed. A rumor also said that preorders might start after the event. However, the coronavirus crisis might affect some of those plans. If these reports and leaks are accurate, the PS5 release date and price might be revealed next month.