Despite shipping over 11 million units, Sony’s PS5 sales still fell short of expectations

Sony announced results for the 2021 fiscal year ended March 31, 2022, noting that sales of the PlayStation 5 did not meet the company’s projections.

According to Sony, it expected to sell 14.8 million PS5 units for the year, but instead sold just 11.5 million, falling 3.3 million units short of its projections – what Sony had predicted.

Sony attributed the missed lead to the ongoing chip shortage. However, Sony has managed to move 19.3 million PS5 units since its release.

In the gaming and network services segment, hardware revenue rose 9.5% year over year to 840 billion yen ($6.4 billion). Add-on content and software fell 2% year over year to 1.42 trillion yen (US$10.8 billion), while network services grew 6.8% to 409 billion yen (3, 1 billion US dollars).

The overall gaming segment saw revenue increase 3% year-on-year to 2.74 trillion yen (US$21.06 billion), with operating income of 346 billion yen (US$2.6 billion), an increase of 4, 4 billion yen, or 1.2% year-on-year. The increase was due to improvements in PS5 profitability, despite the impact of lower sales of non-first-party software.

For fiscal 2022, Sony plans to increase development costs to boost first-party software at its existing studios by about 40 billion yen ($307.5 million) year-on-year. PS5 sales guidance is 18 million units, a number based on the company’s current parts sourcing transparency. Despite shipping over 11 million units, Sony’s PS5 sales still fell short of expectations

Fry Electronics Team

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