In a move that few analysts expect, Sony is planning another hardware revision for its PlayStation 5 console in 2024, only a year after introducing the PS5 Slim. Despite its blazing success since its late-2020 introduction, sales of Sony’s flagship gaming console have begun to slow. The Japanese IT titan has reduced its sales target for the current fiscal year from 25 million to 21 million units.
During an earnings call last week, Sony officials warned investors of a “gradual decline” in PlayStation 5 sales in the near future. As a result, there is widespread suspicion in the industry that Sony would repeat its past tactic of delivering an enhanced ‘Pro’ model, similar to how it did with the PS4 three years after its initial introduction.
Serkan Toto, CEO of Tokyo games consultant Kantan Games, told CNBC, “There appears to be a broad consensus in the gaming industry that Sony is aiming to launch a PS5 Pro in the second half of 2024. And Sony will want to make sure to have a superb piece of hardware ready when GTA VI comes out in 2025, which will be a huge boost to the entire gaming industry.”
While Sony did introduce a refurbished PS5 model in 2023 alongside the portable PlayStation Portal, many expect the PS5 Pro to be a much more significant upgrade. Unlike its predecessor, which primarily focused on a smaller form factor, this year’s prospective release is expected to include improvements beyond simple size changes.
Launching a higher-tier system refresh would be consistent with Sony’s previous strategy, acting as a catalyst to reinvigorate interest and push sales for the PS5 platform, particularly in light of the upcoming wave of game releases.
This mid-cycle hardware modification is a frequent strategy used by console manufacturers to keep users interested in older systems. Meanwhile, Sony’s biggest gaming competition, Microsoft, hinted at plans to release new hardware this year in a podcast, though specifics were not revealed.
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