The memory crisis has been hitting companies and consumers hard causing companies like Sony to increases prices for its PS5 console, which Sony now reports has resulted in a notable decline in sales of the PlayStation hardware. While not surprising as people aren’t wanting to spend that extra money, that likely doesn’t make it any less of a problem for Sony.
Then again, Sony likely expected this months ago, considering the direction things have been headed with memory supply, and that could have softened the blow. Sony isn’t alone in this either. Earlier on May 8, Nintendo officially confirmed that it would raising prices for the Switch 2 in September, with prices in the US going up by $50. Nintendo expects this change to cause a decrease in sales of the hardware. And it’s probably right about that. Sony increased prices twice on the PS5 within the last year. Those higher prices are exactly what drove customers to decide against buying the console.
As the memory crisis hurts Sony’s PS5 sales, Sony believes profits from the next fiscal year will see a boost
Hardware sales may have hurt Sony’s overall profits for the fiscal year 2025, but the company is expecting to see a boost by about 30% in the following fiscal year. Part of that boost will come from its portion of sales of GTA 6, which is supposed to launch in November of this year. It also won’t be dealing with the impairment loss it reported in today’s earnings call from its acquisition of Bungie.
Sony does note, however, that while profits are expected to see an increase, continued development of the PS6 will cause those profits to be less substantial. The memory crisis and higher cost of memory components is likely to have an impact on the end cost of the PS6, which could result in slower adoption of the console when it launches.
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