Sony Could Release a PS5 Pro Later This Year, Analysts Say
In the latter half of 2024, Sony plans to launch a refreshed version of its popular PlayStation 5 console, tentatively named the PlayStation 5 Pro, as reported by industry analysts who spoke with CNBC. This strategic move is a response to a recent reduction in sales forecasts for the original PlayStation 5 console, and demonstrates Sony’s ongoing commitment to maintaining enthusiasm for its gaming division.
PlayStation 5 Pro: A Strategic Refresh
The anticipated PlayStation 5 Pro aims to reinvigorate interest in the gaming console, addressing concerns raised by Sony’s recent downgrade of its sales projections. Industry experts suggest that this refresh aligns with previous trends in the gaming sector, where companies introduce upgraded hardware to stimulate sales, especially during the latter part of a console’s lifecycle.
Building Anticipation for Grand Theft Auto VI
Analysts speculate that Sony is strategically aligning the PlayStation 5 Pro’s release with the launch of Grand Theft Auto VI in 2025, a highly anticipated game set to energize the gaming industry. By offering a souped-up piece of hardware, Sony aims to capitalize on the game’s release and provide gamers with an enhanced experience.
Analyst Consensus Points to PlayStation 5 Pro
Leading the pack of industry analysts is Serkan Toto, CEO of Tokyo-based games consultancy Kantan Games, who expressed a “broad consensus in the game industry” regarding Sony’s preparations for the PlayStation 5 Pro launch in the latter part of 2024.
Profit Margins Challenge
Despite the positive outlook for a new console, Sony faces challenges in its gaming business, with profit margins nearing decade lows. During a recent earnings call, Sony management emphasized the need to “optimize sales with a greater emphasis on the balance with profits.” This approach may lead to maintaining the current PlayStation 5 price, even with the introduction of the PlayStation 5 Pro.
Addressing Margin Pressures and Future Strategies
Sony boss Hiroki Totoki’s recent comments on the PlayStation business highlighted the company’s focus on reducing development costs within its studios. Additionally, Sony aims to enhance PlayStation game margins by expanding its presence on non-PlayStation platforms, such as PC, showcasing a multifaceted strategy to address margin pressures.
