Sony has released its latest PlayStation 5 console model, the PS5 Digital Edition, which has no disc drive and aims to boost profits for the tech giant, priced at $399. The launch comes at a critical time due to the COVID-19 pandemic’s major disruptions in the gaming industry and supply chains. Sony has banked on the success of the PS5, taking on rival Microsoft’s Xbox Series X console, and increasing its sales outlook for the year due to exceptional pre-orders which have surpassed any other previous PlayStation console pre-order debut. Sony expects to sell over 10 million PS5 consoles in the present fiscal year.
Sony Rolls Out Latest PlayStation 5 Console Model, Boosts Sales Outlook
Sony Corporation has rolled out its latest PlayStation 5 console model, the PS5 Digital Edition, which eliminates the disc drive and could potentially increase profits for the tech giant. The new console was released on 10th November, 2020, at $399, while the standard PS5 model with a disc drive is priced at $499.
PS5 Digital Edition Launched at Optimistic Time for Sony
The release of the PS5 digital edition could not have come at a more critical time for Sony Corporation. With the COVID-19 pandemic causing major disruptions in the gaming industry and supply chains, Sony had to delay the release of the PS5 console to make sure they had enough to supply the global market.
The Future Looks Bright for Sony
The launch of the PS5 digital edition is a strategic move by Sony to take on its main rivals, Microsoft Corporation and its Xbox Series X console. Sony is banking on the success of the PS5 to significantly boost their business and revenue projections. According to an official statement by the company, the pre-orders for the new console have surpassed any other previous PlayStation console pre-order debut. The intense demand for the new device has caused Sony to increase their sales outlook for the year.
Consumer Demand Fueling Sales Expectations
The strong outlook for PS5 sales is fueled by consumer demand despite the challenging economic conditions caused by the coronavirus pandemic. The holiday season is expected to bring in high consumer demand, driving up the sales projections further. According to Sony, they expect to sell more than 10 million PS5 consoles in the current fiscal year, helping to boost their revenue projections.
Conclusion
The enthusiasm generated by the PS5 launch reflects Sony’s resilience and the strong brand loyalty enjoyed by the PlayStation franchise. With a strong library of exclusive games, the PS5 is expected to dominate the market in 2021 and beyond.