PlayStation 5 sales have improved a lot after the period of scarcity faced during the pandemic and at this time one of the objectives is to align the commercial performance of the console with that of PS4 at the time. However, although sales are good, they are not enough for Sony and this has already had an impact on the stock market.
WHY DID SONY'S STOCK FALL?
According to information from Takashi Mochizuki, Bloomberg reporter, Sony's share price was more than 6% down after the Japanese company presented its financial report and one of the factors that led to this fall was that PS5 did not reach the expected sales. According to the information, the environment is uncertain about the business of the Japanese company in the short term since PS5 did not meet expectations, as well as its division of sensors used in smartphones.
PS5 SALES ARE NOT MEETING SONY'S EXPECTATIONS
Although PS5 already sold 41 million units, Sony considers that its sales are below the projected because the expectation for the fiscal year is to sell 25 million units, something that still seems distant with the current trend. In this regard, it is said that this is one of the reasons why the Japanese company ordered a price cut of PS5 in important markets and the idea is that with this measure sales can be improved and it is possible to reach the proposed goal.
Finally, the report points out that this uncertainty and its effects on the stock market has to do with the performance of Sony's business in the short term because, according to analysts, the company will be able to float each division and meet its long-term projections. In that sense, the president of Sony, Hiroki Totoki, was confident that the coming months will deliver better results, especially in what is related to PlayStation 5.
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