Sony increases its production target for the PS5 from 5 million to 10 million consoles.
Over 10 million PS5 consoles are in the works for production which started in June 2020. Sony representatives stated it increased production numbers because it, “sees the prolonged effects of the COVID-19 pandemic boosting demand for gaming.” It should be noted that this demand is not without consequences. We recently profiled how the pandemic has increased gaming addiction, and how it could be considered that the industry is taking advantage of the situation.
Bloomberg reported earlier that Sony was only going to produce roughly 5 to 6 million units by the end of March 2021. But as noted, Sony quickly did a retake and adjusted its production capability to meet their forecasts for demand of the PS5. Sony recently released information on some of its forthcoming PS5 games.
Their plan has now changed to a staggered production cycle. 5 million units produced by the end of September 2020, with the remaining by October 2020. Production has increased 2-fold and fulfillment was moved-up by nearly 6 months.
Don’t be shocked at supply shortages even with 10 million PS5 coming soon. The units are being manufactured in China, and as the COVID-19 situation remains dynamic there – it could result in shortages if any of the manufacturing plants are shuttered.
There is also the possibility of a supply chain shortage in receiving the parts necessary to complete the units. Not to mention the fact that it takes a few months for consoles to make the trip across the ocean from China to the U.S. and Europe. More than likely, we’ll see Ebay loaded with PS5 consoles from earlier buyers charging hundreds of dollars extra attempting to cash-in on any shortages.