Sony has significantly readjusted its profit projections for its PlayStation 5 games sales across 2022, posting a 16% reduction in its latest quarterly financial report. Citing “an expected decrease in sales of first-party titles” and the expenditure attributed to its recent acquisition of Bungie, the Japanese gaming giant revised its profit forecast down from $2.3 billion USD back in May last year to now $1.9 billion USD for the year of 2022.
Overall, the company sold just 47.1 million titles over the quarter with 6.4 million of those being first-party games, a significant decline compared to the same period last year which saw 63.6 million games sold, 10.5 million of which were first-party.
As for PS5 console sales, the company hasn’t adjusted its forecast just yet, but Sony has only shipped 2.4 million units so far this year. With its projection of 18 million units across 2022, it’ll have to sell more than five million consistently every quarter to reach that target. Chances look slim for now, especially if production has not been ramped up.
Elsewhere in the gaming industry, a group of former CD Projekt Red developers who worked on The Witcher 3 are now creating a game based in feudal Japan.
Tagged: business, gaming