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Sony: PS5 Sales in June Quarter Were Less Than Expected Progress Towards 25 Million Forecast

Sony: PS5 Sales in June Quarter Were Less Than Expected Progress Towards 25 Million Forecast - Sales

by William D'Angelo , posted on 02 September 2023 / 5,122 Views

Sony Interactive Entertainment recently announced it shipped 3.3 million PlayStation 5 consoles in the first quarter of the 2023 fiscal year, which ended June 30, 2023. This is up from 2.4 million units (38%) compared to the same quarter a year ago.

Sony COO Hiroki Totoki in an earnings call (transcribed by Seeking Alpha) did admit the 3.3 million figure for the PS5 is lower than the progress they had hoped to go towards the companies goal of shipping 25 million PS5 consoles this fiscal year.

"PS5 hardware sales were 3.3 million units, a significant increase of 38% year-on-year," said Totoki. "This amount is somewhat less than the expected progress toward our fiscal year sales target of 25 million units. But due to the promotion began 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 in this fiscal year, and we will try to work steadily to implement necessary measures to achieve hardware sales target. Towards the end of the calendar year, the first party title, Marvel Spider-Man 2, and major third-party titles are scheduled to be released as well. And we expect that the entire gaming industry and the PS platform will be greatly energized."

He added, "By regions, currently in Japan, the sales is strong, and the same holds true for Asia. And about North America, the response to the promotion is quite favorable. In United Kingdom, it’s a bit weak, but Europe as a whole has been performing quite well."

Sales of the PS5 have improved starting in July due to multiple temporary price cuts in many parts of the world. Sony in the UK, Ireland, Germany, Austria, and India discounted the price of the PS5 towards the end of July and it is set to end on August 10.

Sony this week has discounted the price of the standard PS5 model in the US by $50 until August 20. The PS5 with a disc drive is available for $450, the bundle with Call of Duty: Modern Warfare II is on sale for $490, and the Final Fantasy XVI bundle is available for $510.


A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.


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23 Comments
XDKrieg33 (on 10 August 2023)

I think FF XVI didn't boost sales as expected.

  • +4
KratosLives XDKrieg33 (on 10 August 2023)

I don't think games are going to sell like they used to,considerding the amount of quality games that released and the backlog of games people have to catch up on.

  • +3
BonfiresDown KratosLives (on 15 August 2023)

That’s just not the case when you look at sales of Hogwarts, Zelda, Diablo etc.

  • 0
KratosLives BonfiresDown (on 16 August 2023)

Harry potter is kind of a first for what it did and to the franchise, and totk is the main exclusive people have been waiting yrs on. Don"t know why they released ff16 alongside totk. A lot of people would have been playing it if not for totk

  • 0
SanAndreasX XDKrieg33 (on 10 August 2023)

Maybe Baldur's Gate 3 will give them a boost next month.

  • +3
VAMatt SanAndreasX (on 10 August 2023)

Yeah, it has become an accidental console exclusive for them. A big miss for Microsoft here.

  • +4
KratosLives SanAndreasX (on 11 August 2023)

Yeah I was never into dungeons and dragons, but the single player is looking epic. If not for starfield, i'd be playing this game next month.

  • 0
DonFerrari SanAndreasX (on 11 August 2023)

It should give a modest boost since there isn't really any game similar to it at PS5 at the moment.

  • 0
DonFerrari XDKrieg33 (on 11 August 2023)

Seeing FFXVI was the biggest PS5 opening and that Q1 have been record for Playstation 5 they not meeting what they expected just mean they were expecting a lot =p

  • -2
KLAMarine (on 10 August 2023)

Could there be anticipation towards a slimmer model?

  • 0
DonFerrari KLAMarine (on 11 August 2023)

Not sure, it was their best Q1 ever in 29 years.

  • -3
Kakadu18 DonFerrari (on 11 August 2023)

In what metric? At least not in hardware shipments.

  • +3
drkohler KLAMarine (on 14 August 2023)

Anticipation is the wrong word.
The first batches of the new PS5 model were supposedly made late in April. By June, the new model likely was in full (or at least increased) production.
This means that the 3.3M PS5s shipped are NOT the full production number pf PS5s. The new model was not for sale, so they don't show up in the "shipped" number. They should somewhere be hiding in the "inventory" report or elsewhere.

As Sony was able to produce 6M units in the previous quarter, it had theoretically the capacity to produe 3.3M PS5s and 2.7M new model PS5s. Given the new model supposedly starts appearing on shelves in September, this is not an impossible (maximum) scenario.

  • 0
Signalstar (on 10 August 2023)

Seems there is some trouble in paradise.

  • 0
2zosteven Signalstar (on 10 August 2023)

only the numbers that were told to the shareholders.

  • 0
Pemalite Signalstar (on 10 August 2023)

If anything it's probably positive news to us, the consumer.

Because they missed shareholder forecasts, Sony is likely to increase bundles and do more price cuts to hit targets.

  • +6
siebensus4 (on 10 August 2023)

The Sony stock dropped 6 % yesterday. The sales performance of PS5 was actually one of the better news...

  • -1
DekutheEvilClown siebensus4 (on 11 August 2023)

Their share price is up 23% year to date. A 6% change is basically nothing.

  • +1
DonFerrari DekutheEvilClown (on 11 August 2023)

It was still a drop in shares, but they were due to other areas doing worse than expected, PS was doing great (just not as high as what they wanted even though it broke records).

  • -3
xgamerx (on 10 August 2023)

they're piling up at my walmart but still selling say faster than the series x which with the diablo 4 bundle at 560 is simply way too expensive..

  • -2
DonFerrari xgamerx (on 11 August 2023)

Of course it is selling faster than Series X, even in USA at the moment PS5 is about 2:1 versus Series.
Also Diablo 4 is selling more on PS5 than on Series.

  • -6
carlos710 (on 10 August 2023)

So thats why they were so quick to do price cuts.

  • -2
DonFerrari carlos710 (on 11 August 2023)

Not price cuts yet, temporary promotion, that yes will most likely become price cuts and they are just trying to give that sense of urgency to zero the inventory for the Slim.

  • +2