Sony sold just 1.5 million PS5 consoles in its most recent fourth fiscal quarter, marking a 46% decline compared to the same period last year. The sharp drop in sales follows two significant price increases for the PS5 over the past 12 months.
Originally priced at $499.99, the standard PS5 model now retails for $649.99, a 30% increase. Sony attributed the price hikes to "continued pressures in the global economic landscape," which were exacerbated by an ongoing memory chip shortage and geopolitical tensions linked to the war in Iran.
In response to the declining sales and rising costs, Sony has revised its financial outlook. The company now forecasts a six percent decrease in annual gaming revenue for the current fiscal year. However, these projections remain subject to change due to volatile memory chip prices.
Sony stated, "We plan to base our PS5 hardware sales in FY26 on the volume of units sold rather than revenue."
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