Sony’s PS5 sales slump amid price hikes and memory problems

Sony only sold 1.5 million PS5 consoles in its fourth fiscal quarter, down 46 percent year-over-year. The decline in PS5 sales comes after Sony raised the price for its PS5 consoles twice over last year, pushing the standard PS5 price from $499.99 all the way to $649.99.

Sony blamed “continuing pressure on the global economy,” for the price hike in March, amid recall problems and pressure from the war in Iran. Sony is now forecasting a 6 percent decline in annual revenue, but that forecast could be affected by ongoing expenses. “We plan to launch our PS5 hardware sales in FY26 for the amount of memory we can buy at a reasonable price and we expect the hardware profit to be the same as FY25,” says Sony.

Sony it was revealed earlier in February that it had acquired a “low volume” of recalls to manage the end-of-year shopping season, and that it was working “with various suppliers to find enough food to meet the needs of our customers.” In the full fiscal year 2025 Sony sold 16 million PS5 consoles, down from 18.5 million in the previous fiscal year.

It’s a tough hardware market right now. Microsoft has been revealed recently its Xbox revenue fell 33 percent year over year. Along with the decline in Xbox hardware revenue, Microsoft also reported a 5 percent decline in Xbox and operations. Nintendo too raising its Switch 2 prices by $50 on September 1, predicting a decline in sales in the coming year.