Sony Has Enough PS5 Parts To Hit 2021 Sales Goal Despite Chip Shortage

Sony Has Enough PS5 Parts To Hit 2021 Sales Goal Despite Chip Shortage

According to an update shared via Sony’s Q1 FY 2021 earnings results, the manufacturer has secured enough chipsets to meet its lofty PS5 sales goal.

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Sony Has Enough PS5 Parts To Hit 2021 Sales Goal Despite Chip Shortage

According to Sony’s Q1 FY 2021 financial report, the platform holder managed to obtain enough components to meet its PlayStation 5 sales goal, despite the chip shortage. Chief Financial Officer Hiroki Totoki shared Sony’s lofty expectations during a February earnings call; notably, the company aims to sell 14.8 million PlayStation 5 consoles by the end of 2021.

Such a hopeful figure seemed out of reach at the time, mostly due to the semiconductor shortage that continues to affect a range of industries – automotive and smartphone industries included. But PS5’s sales success, thus far, indicates the platform holder may very well meet its internal expectations. As the fastest-selling PlayStation hardware, and the fastest-selling console in general, Sony’s latest gaming device had moved a staggering 10 million units as of July 18. That’s a 2.2 million increase since the last sales update in April, which saw the Japanese giant announce 7.8 million PS5s sold through to customers. With this trajectory in mind, 14.8 million no longer seems farfetched.

Transcribed by VGC, a webcast following the publication of Sony’s Q1 fiscal year 2021 earnings report reveals the company secured enough PS5 chipsets to meet sales expectations for the year. Hiroki Totoki told investors that while the semiconductor shortage has impacted various areas of the business, Sony took action to ameliorate the issue. According to the CFO, “for PS5, the target has been set for the number of units to be sold this year, and we have secured the number of chips that is necessary to achieve that. Regarding the supply of semiconductors, we are not concerned.” It would seem, then, the hardware manufacturer holds firm in its prediction that PS5 will top 14.8 million units sold by year’s end.

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This news comes on the heels of Intel CEO Pat Gelsinger citing ongoing supply chain issues as the chief reason that PS5 and Xbox Series X|S chip shortages would persist into 2023. And Gelsinger’s estimate landed just weeks after Sony reportedly told analysts PS5 shortages may continue through 2022. Yet, it’s clear the manufacturer remains confident in its ability to meet demand throughout the year.

PlayStation 5 released in November 2020 and quickly became the must-have item for the holiday season. Due to supply constraints, scalpers were quick to take advantage of the situation, reselling the console online and raking in millions while doing so. Sony’s claim that it now has a better handle on the chipset situation means the resale market could soon take a massive hit, if it hasn’t already.

Link Source : https://screenrant.com/ps5-2021-sales-goal-sony-secures-chipsets/

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