Sony launched the PlayStation 5 in November 2020, after console gamers waited for nearly four years for an upgrade. However, due to scarcity in production many gamers across the world weren’t able to get their hands on the latest console. Thus, having a PS5 ever since its first sales went live, was like a far-fetched dream for many. The demand was high and availability was low. And, until now Sony was not able to resolve this issue.
Now, three years later, Sony has finally announced the end of the stock woes.
PS5 End of Stock Woes: Too Little, Too Late
Sony, first launched the PS5 three years back, in 2020 in the midst of the pandemic. With people confined in their homes, the launch of the PS5 was a welcome move for both loyal PlayStation fans and those who had never really owned a PlayStation.
However, there was one major problem in the supply chain- a shortage in PS5 production.
From 2020 through early 2021, the global gaming industry, including Sony’s PS5, grappled with substantial supply chain hurdles primarily stemming from the COVID-19 pandemic. These hurdles encompassed disruptions in manufacturing, transportation, and logistical processes. The pandemic induced factory closures, labor scarcities, global semiconductor chip shortage, and shipping and distribution delays, all of which rippled through the supply chain, impacting the availability of essential components required for the production and distribution of gaming consoles like the PS5.
Concerning the anticipated revenue growth in the gaming sector, these supply chain challenges bore both immediate and potentially enduring repercussions. In the short term, the supply limitations constrained the volume of PS5 units that could be sold, potentially resulting in reduced revenue for Sony, as they were incapable of meeting the full demand for their product. Nevertheless, the robust demand for gaming and the excitement surrounding the PS5’s launch suggested that once the supply chain issues were resolved, there would be pent-up demand that could trigger a surge in sales.
However, the PlayStation 5 has been on the market for quite some time now, and as we approach the end of 2023, many hardcore gamers have already had the chance to experience it. Therefore, the recent announcement that the PS5 is now readily available didn’t create the same impact it would have had if it came a year or two earlier.
The New PS5
Sony recently unveiled a slimmer version of the PS5, which has become the center of attention for gamers worldwide. The introduction of the new PS5 was made through a blog post by Sid Shuman, Senior Director of SIE Content Communications, who stated that it was designed to cater to the changing needs of players.
While Sony hasn’t officially announced the release date for the new PS5, they mentioned that it will arrive during the holiday season. There are widespread speculations that the slimmer PS5 might hit the market as early as November. If this happens, potential buyers might opt for the newer, lighter version, rather than the original version, which has only recently resolved its supply chain issues.
As a result, Sony’s announcement about addressing the supply chain problems of the PS5 might be considered somewhat late, as a new console from the Japanese tech giant could be just around the corner. Once the slimmer PS5 is available, there might be little incentive for people to purchase the original one.