PlayStation 5 To Have More Promotions This Year As Sony Aims To Break Sales Record

Zinger Key Points
  • Sony aims to achieve a record PS5 sales target by using promotions and strategies this financial year.
  • Despite strong sales, operating income dropped 7% due to increased costs from acquiring Bungie.

Sony Group Corp SONY aims to achieve an ambitious sales target for the PlayStation 5 by implementing promotions and other strategies during this financial year.

The Tokyo-based company's goal is to sell 25 million PS5s this financial year — a record for PlayStation consoles, IGN reported.

In the first quarter of 2023, Sony sold 3.3 million PS5 units, surpassing the previous year's 2.4 million but falling short of expectations. While the PS5 has sold a total of 40 million units since its launch in November 2020, it slightly trails the PlayStation 4's sales trajectory.

See Also: Project Q Leak - Sony's PlayStation Handheld Surprises Gamers With Weird Design

The Japanese company plans to employ various measures to boost sales momentum, such as the promotions that began in Europe in July and started this week in the US.

"We believe that there is ample possibility for us to catch up," Sony president Hiroki Totoki said, as per Reuters.

The PlayStation business maintains strong financial performance, with sales up by 28% to 771.9 billion yen ($5.3 billion) in the last quarter, driven by higher third-party game and hardware sales, along with foreign exchange effects.

However, operating income dropped 7% to 49.2 billion yen ($343 million) due to increased costs from Sony's acquisition of Bungie for $3.6 billion.

Moreover, Sony revised its PlayStation sales forecast for the year by 7% to 4.1 trillion yen ($29.1 billion), while keeping operating income unchanged, citing lower profitability of PS5 hardware due to changing promotional strategies and sales channel mix.

Read Next: New Xbox And PlayStation Consoles Likely Coming In 2028: News Comes From Activision And Microsoft Acquisition Court Documents

Photo by Caspar Camille Rubin on Unsplash

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