Sony Addresses Possibility of PS5 Price Drop

gamerant.com:

Treating the PlayStation 5 to a significant discount would be «very difficult» to do right now, a senior Sony official has said. That remark was attached to a wider explanation for why the PS5 hasn't gotten any more affordable since first hitting the market in 2020.

Not only did the ninth-generation console maintain its price for nearly three and a half years and counting, it has even gotten more expensive in numerous markets since its debut. This happened ahead of its two-year release anniversary, when Sony increased the price of the PS5 in dozens of countries. The only major market unaffected by the move was the United States. The price hike was highly controversial among consumers, especially since it coincided with Sony finally overcoming the pandemic-induced supply chain issues responsible for global PS5 shortages, which prevented many from getting their hands on the console until then.

Despite the fact that the PS5 has now officially entered the «latter stage» of its life cycle, the chances of it receiving a significant price cut in the foreseeable future are slim. That's according to Sony CFO Hiroki Totoki, who said as much during a conference call with investors following the publication of the company's latest financial report. As first reported by IGN, Totoki explained that the process of shrinking the PS5 die size would be much harder (i.e., more expensive) than it was with its predecessor, concluding that a major consumer-facing price cut is hence «very difficult» to achieve.

The investor call also saw Totoki outright say that the company does not want to rely on discounts to maintain its business momentum, stating that Sony instead wants «a nice balance» between console sales, user engagement, and profitability. His comments were offered shortly after the group reduced its annual PS5 sales forecast to 21 million units, down from its previously projected 25 million. Sony also said that no new entries in major PlayStation franchises will be released until at