News 20 February 2024

New Sony PlayStation console likely to launch later this year as PS5 sales fall

20 February 2024

According to analysts speaking to CNBC, Sony is expected to unveil a PlayStation 5 Pro later this year, likely aimed at rejuvenating interest in the PS5 amidst projected sales decline.

While Sony has not officially commented on these reports, industry experts note the company’s history of releasing enhanced versions of its gaming consoles, such as the PS4 Pro in 2016, three years after the PS4’s launch, as well as the desire to tie in a console release with the launch of GTA 6.

Serkan Toto, CEO of Kantan Games, a Tokyo-based games consultancy, expressed industry consensus regarding Sony’s purported plans, emphasising the significance of launching a superior hardware offering before the GTA 6 release.

Despite expectations for the PS5 Pro, analysts suggest Sony may maintain the current PS5 price due to margin pressures.

Sony’s sales forecast for the PS5 has been revised downward for the current financial year, with projected sales reduced from 25 million to 21 million units. However, the holiday 2023 quarter saw a year-on-year increase in PS5 sales, rising from 7.1 million to 8.2 million units.

Sony has also announced plans to refrain from releasing major existing PlayStation franchise games until April 2025, impacting anticipated sequels in franchises like God of War and Spider-Man.

[Image created via MidJourney]