Sony Lowers PS5 Sales Forecast, Plans 2025 IPO for Financial Unit

Sony lowers its PS5 sales forecast for the 2023 fiscal year, expecting to sell 4 million fewer units than previously projected. Despite increased third-quarter sales and the release of Spider-Man 2, Sony anticipates a decline in PS5 hardware sales as the console enters the latter stage of its life cycle. The company plans to prioritize profitability over unit sales and has no plans to release new major franchise titles in the next fiscal year. With competition intensifying in the console market, Microsoft and Nintendo are expected to release new hardware, while rumors suggest a potential PS5 Pro from Sony in late 2024.