It’s no secret that online and physical gaming stores have a shortage in their PlayStation5 console supplies. With its release in the late 2020 with up to 20 million units sold, PS5 still remained as one of the tough-to-own commodities in the gaming industry. So the conundrum is, will the highly coveted PS5 be readily available this last half of 2022?
Re-stocks of the console are slowly picking up between now and the end of the year. However, they sell out faster than retailers can afford to supply and it’s difficult to tell in advance when more stock will be made available.
Sony executive Veronica Rogers said “that the company is planning on a significant ramp-up in PS5 production this year and is working endlessly to make sure that PlayStation 5 is available for everyone who wants one." A 60% rise in annual console production amounting to 18 million PS5 units worldwide is expected by this fiscal year through March 2023. “Yet this increase won’t still be enough to satisfy the soaring demand for the console in the months to come”, Sony Executive Deputy President and CFO Hiroki Totoki said.
So what causes this shortage in PS5 production and supply?
Sony expects the PS5 supply shortage will sustain until 2023. This is due to the ongoing chip shortage and demand issues that are brought both by the Covid pandemic and ongoing war between Russia and Ukraine.
The prolonged global shortage of computer chips continues to derange the market for this generation of consoles. This is also brought upon by the crisis in production of semiconductors which are a component in a lot of devices, from automobiles to gadgets and computers. The pandemic has largely impacted the logistics and parts inventory causing backlogs in outsourcing essential components.
Supply chains are also breaking down with ships stuck at port that ensued in difficulty to travel components in bulk to make the consoles. And on the other hand, also resulting to a retarded delivery of produced consoles to the retailers and consumers.
Sony plans to mitigate these issues by sourcing parts from multiple suppliers and negotiating with logistical staff to draw the best possible delivery routes.
It is unfortunate that PS5 consoles will take a long time to be high in supply in the market. With the lineup of yet-to-be-released console game exclusives, I think it's a driving force for a significant number of console sales. Sony also predicts the PS5 sales momentum will improve and overtake the PS4's equivalent selling speed by 2024.
So, as PS5 supply still remains in shortage and its market has unpredictable restocking, it is a smart move to watch out on all the retailers, and sign up for notifications so you’ll be alerted in hopes to get ahold of the console for the next few months.
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