Finding a PlayStation 5 is hard and, unfortunately, your months-long search will not get any easier this year. In a call with financial analysts last April, Sony warned that its next-gen gaming console will remain in short supply through 2022.
According to Bloomberg, the Japanese conglomerate said it had sold 7.8 million PS5 units by March 31, and it is aiming to sell at least 14.8 million units throughout the year. Retail analyst firm The NPD Group reported last month that PS5 is the fastest-selling gaming console in U.S. history in both unit and dollar sales. Still, Sony has a long way to go, as it recently admitted struggling to keep up with the strong demand.
“I don’t think demand is calming down this year and even if we secure a lot more devices and produce many more units of the PlayStation 5 next year, our supply wouldn’t be able to catch up with demand,” Chief Financial Officer Hiroki Totoki said at the briefing
Sony added that since the launch of PS5 last November, it has been difficult to find the console in stock partly because of shortages in crucial components, particularly its chips. Sony’s chips are designed by the American semiconductor company Advanced Micro Devices AMD) and produced by Taiwan Semiconductor Manufacturing Company (TSMC), which manufactures most of the world’s computer chips.
TSMC, meanwhile, has been grappling to meet the demands not just of Sony, but many other tech companies worldwide ramping up their supplies for consumers trapped in their homes during the pandemic.
Totoki assured analysts that it will capitalize fully on the global stay-at-home entertainment surge by expediting the production of the PS5 and making sure to restock store shelves.
Apart from the PlayStation 5, the ongoing global chip shortage has been hampering the production of Microsoft’s Xbox Series X and X box Series S, as well as the Nintendo Switch.