Sony Group expects sales revenue to reach ¥12.3 trillion ($78.6 billion) through March 2025, missing analysts’ expectations for ¥12.55 trillion in revenue amid declining demand for the PlayStation 5 gaming console.
Sony predicts a ¥67.7 billion decline in the video game industry, due to an aging hardware lineup. Company executives have said that the console, released in 2020, is now experiencing declining hardware sales, paving the way for a possible updated edition for this year’s holiday season.
Sony sold 4.5 million PS5 consoles in the March quarter. The number of active users on the PlayStation Network fell to 118 million during the period. PlayStation 5 exclusives such as Final Fantasy VII Rebirth have not performed well in recent times, discouraging publishers like Square Enix – owner of the Final Fantasy franchise – from capturing their content on one platform.
