Sony Shares Fall As PlayStation 5 Production Cut, Price Revealed
Sony shares have fallen 2.4% after the Japanese Company told investors it’s slashing production of their new PlayStation 5 by over 4 million units, the move is a blow to local CE retailers with JB Hi Fi tipped to be one of the few local retailers who will get stock.
The shares fell after Bloomberg reported that Sony had to reduce its outlook due to issues with the high-tech chips that will power its next-generation video game system, processors are also a problem in the Companies TV division with the Company struggling to deliver stock of their TV in 2020.
The PlayStation 5 will come in two variants — a full-fledged console with a disk drive, as well as a cheaper version that will only play digital downloads and is one of the most hotly anticipated product of the upcoming peak end of year buying period, it will go head-to-head with Microsoft’s newest Xbox.
Sony, which had for months been engaged in a standoff with Microsoft over who would release pricing details for their next-gen console first, is expected to put a price tag on the PlayStation 5 on Wednesday.
Spanish retailer El Corte Inglés may have inadvertently leaked the console’s price, with a photo of the store’s internal systems showing a 499 euro price (A$899) for the more expensive version and a 399 euro price ($647) for the all-digital edition. If these prices are right the cost in Australia for top end model will around $995.
Reports last week suggested that Sony may have adjusted the pricing of the PS5, which European blog Gamereactor reported was “considerably” higher than the prices Microsoft announced for its two new consoles.
Microsoft last week revealed that its top-tier Xbox Series X would cost $499, while the budget Series S would retail for a wallet-friendly $299.