Sony expects PlayStation 5 supply shortage to end by 2024

Sony Interactive Entertainment has struggled to manufacture and supply enough PlayStation 5 consoles to meet unprecedented demand.

Ongoing chip shortages and global shipping delays in the wake of the COVID-19 pandemic have made it nearly impossible to find a PlayStation 5 console at any retailer or online store.

According to an overview of the game and the PlayStation Network (via @Zuby_Tech) earlier today, Sony has already taken mitigating measures such as “sourcing from multiple suppliers for greater agility in volatile market conditions” and conducting “logistics negotiations to maintain delivery routes optimal for the PlayStation 5” to mitigate short-term inventory and logistical risk.

Sony notes that resolving the supply issue is “a top priority”, but it will likely take a few more years for it to completely clear up.

Sony sold fewer PlayStation 5 units than expected in the second year and therefore did not top PlayStation 4 sales for the same period. The company expects to close the gap in year three before finally overtaking the PlayStation 4 in year four and beyond.

The new projections suggest that Sony expects its supply shortages to ease by 2023 and end by 2024. The projection is in line with analysts who recently predicted that the global shortage of semiconductors would ease in early 2023. Sony Interactive Entertainment CEO Jim Ryan also clarified last year that global supply chain issues will continue to be a challenge throughout 2022.

Since its launch, nearly 1,000 PlayStation 5 consoles have been sold every minute in North America, according to Sony. In comparison, only six PlayStation 4 consoles were sold every minute in North America during the same stage of the product life cycle.

The astonishing longevity of a PlayStation 5 console should add more clarity to the growing demand that Sony is trying to meet.

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