Sony Commits to Meeting PlayStation 5 Sales Target in FY23: Expect Heavy Discounts

Despite the 3.3 million units mark not meeting Sony’s expectations in Q1 FY23, Sony is committed to shipping a total of a staggering 25 million units of the PlayStation 5 in this financial year. This is the reason for the recent steep price cuts on the PlayStation 5 console. 

While elaborating on its financial results for the first quarter of FY23, Sony explained why the discount strategy is essential for them to meet PlayStation 5 sales targets this year:

PS5 hardware sales were 3.3 million units, a significant increase of 38% year-on-year.

This amount is somewhat less than the expected progress toward our fiscal year sales target of 25 million units. However, due to promotions begun in July, we are seeing an improvement in the momentum of sales.

We have positioned the accelerated penetration of PS5 hardware as one of the highest priorities this fiscal year, and we will work steadily to implement necessary measures to achieve our hardware sales target of 25 million units.”

As mentioned above, Sony is giving the steady supply of PlayStation 5s the utmost priority this fiscal year. They are ready to take necessary measures to achieve the 25 million units mark. This explains why Sony decided to temporarily drop prices on its PlayStation 5 consoles ( both Digital and Disc versions) across the globe, as well as in the US, where some retailers were offering up to a $50 discount on the PlayStation 5 and up to $25 off on the DualSense Controller. 

And It looks like this will be a recurring occurrence as the supply of PlayStation 5 has significantly improved. Now, anyone can easily get their hands on Sony’s latest console. Even Target Stores around the States have PlayStation 5s in stock.

Alongside ease of availability, price cuts like the recent ones or special game bundles offered by retailers give gamers an incentive to buy the console. Therefore, you can expect more discounts like the recent one on PlayStation 5s in the future.

Rumored PlayStation 5 Slim Could Significantly Help Sony Achieve Its Sales Goals in FY23

There are rumors that Sony might launch the PlayStation 5 Slim with a detachable disc drive at the end of this year. We’ve explained here why the 5nm PlayStation 5 Slim would be much cheaper in price than the current versions of the PlayStation 5 in the market. Thus, a much cheaper PlayStation 5 Slim will significantly boost console sales, ultimately helping Sony achieve their 25 million sales target. 

While Sony is trying their best to give gamers a great price on the PlayStation 5, Sony thinks the UK’s response to the recent temporary price cuts on the console was underwhelming. It will be interesting to see Sony’s strategies to increase sales in the UK in the future.

That’s all the information we have for now, which gives us a glimpse of Sony’s future plans and strategies to maximize PlayStation 5 sales in FY23. We will update you upon receiving any further information about this. Until then, please feel free to share your thoughts on this news in the comments section below.