The PS5 is in the "latter half of the console cycle," but Sony says a price cut is unlikely

gamesradar.com:

The PS5 has entered the "latter half" of its life cycle, according to Sony, and a price cut looks unlikely.

Earlier today, February 14, Sony Group president Hiroki Totoki briefed investors and shareholders on what the upcoming fiscal year would hold for the company. During the briefing, Totoki said that the PS5 was in "the latter half of the console cycle," according to Bloomberg reporter Takashi Mochizuki. 

Sony says:-PS5 hardware sales in Oct-Dec quarter fell short of its plan for 25 million sales goal. -cut current FY's PS5 sales goal to 21 million from 25 million-PS5 is entering "its latter stage of life cycle"- PS5 hardware sales to slow down aheadFebruary 14, 2024

It feels like barely any time has passed since the PS5 first launched in late 2020, but here we are. If the PS5 has now effectively passed the halfway point in its life cycle, as Sony seems to believe it has, this means there should be a little over three more years, until the PS5's eventual successor is here. That math does roughly work out - the PS2, PS3, and PS4 generations all lasted six or seven years, and as the PS5 hits 3.5 years old, we're not far off the next generation, according to that pattern.

Elsewhere, Totoki apparently said that a PS5 price cut wasn't a serious possibility. Sony slashed the base retail price of the PS4 as it entered the twilight of its life cycle, but according to the Sony president, this would be difficult to do for the PS5, as the company is already trying to cut production costs of the PS5. 

Sony said drastic price cut on PS5 similar to what Sony did on PS4 is difficult as room is limited to cut production cost of PS5 vs PS4February 14, 2024

Elsewhere, Totoki also said that the PS5 won't get any new major franchise titles before April 2025, such as God of War or Spider-Man games. While that doesn't rule out other games such as the Until Dawn remaster from launching in that period, it means Sony won't roll out any true blockbuster games in existing series' for its